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The 2nd Five-Year Plan was the second five-year plan adopted by the People's Republic of China. It was planned to last from 1958 to 1962, and was more modest than the first Five-Year Plan, but was de facto abandoned since the beginning of the Great Leap Forward.
No five-year plan ultimately covered the period 1963–1965. [11]: 201 As initially conceived, the Third Five Year Plan emphasized further development in China's already more developed coastal areas and a greater focus on consumer goods. [7]: 7 It called for enhancing "eating, clothing, and daily use" items (chi, chuan, yong).
In 1953, when China entered the first five-year plan period, the Chinese economy had improved and the Ministry of Finance still decided to include the fiscal surplus of the previous fiscal year as credit funds in the 1953 budget revenue to cover the current year's expenditures. As a result, budget expenditures were expanded and so was the size ...
The economy of the People's Republic of China is a developing mixed socialist market economy, incorporating industrial policies and strategic five-year plans. [29] China is the world's second largest economy by nominal GDP and since 2016 has been the world's largest economy when measured by purchasing power parity (PPP).
China’s top officials have pledged to put greater focus on economic growth next year, but the lack of measures to boost consumer demand could make it tough to deliver on that promise.
HONG KONG (AP) — China's economy expanded at a 5% annual pace in 2024, slower than the year before but in line with Beijing’s target of “around 5%” growth, thanks to strong exports and ...
[38]: 12 It was later incorporated into China's Twelfth Five-Year Plan (2011-2015) as the Plan's major objective. [38]: 12 On January 14, 2009, as confirmed by the World Bank [45] the NBS published the revised figures for 2007 financial year in which growth happened at 13 percent instead of 11.9 percent (provisional figures).
Ageing has become a growing concern in the world's second-largest economy, with China's cohort of people 60 and older expected to rise at least 40% to more than 400 million by 2035, equal to the ...