China plenum to execute ‘new normal’ theory

Beijing, Oct 27 (IANS) The 18th Central Committee of the Communist Party of China (CPC) has convened its fifth plenary session, a meeting observers believe will focus on defining an economic “new normal” in the next five years.

The meeting which started on Monday in capital Beijing includes some 200 members of the CPC Central Committee. It is scheduled to end on Thursday, the Global Times reported.

Although no details about the meeting were released on the first day of the closed-door discussion, it is projected to outline the 13th Five-Year Plan (2016-20) for national development.

Five-year plans have been drafted since 1953 to map strategies for economic and social development, setting growth targets and development policies.

Experts agreed that the “new normal” of China’s economy will be discussed throughout the meeting and there will be a focus on compiling the five-year economic blueprint, given the current slowdown.

Poverty alleviation and improving livelihoods are listed among the 10 goals of 13th Five-Year Plan.

Experts agreed that the government will face great challenges in eradicating poverty if the economic downturn persists.

In addition, adjustments to family planning policy are also expected to be discussed during the meeting.

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