China’s 5th Plenum focuses on social spending and green growth

Another important event this week in China is the conclusion of the fifth plenary session of the 18th CPCCC (Fifth Plenum) on 29 October. The plenum approved the "CPCCC's proposals for national economic and social development during the 13FYP."

The communiqué reiterated the CPCCC's commitment to double the 2010 GDP and per-capita income levels by 2020, on the basis of more "balanced, inclusive and sustainable" growth. 

It sets "innovation, coordination, green growth, opening up, and inclusion" as its development philosophy, consistent with the five themes and 10 priority areas of development discussed in China:

"The 13th Five Year Plan, the fight against gravity, 20 October 2015. In particular, the fifth plenum stressed improving social-economic development (expanding coverage of education, health care and pension scheme, and adopting a two-child policy) and green growth. The details of the proposals are expected to be released around 7 November", says Barclays.