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Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BEIJING, Nov. 7 (Xinhua) — China could create an additional market space of about 10 trillion yuan (about 1.4 trillion U.S. dollars) in the next five years by upgrading key traditional industries and expanding advanced manufacturing, according to a think tank report released Friday.
The report, titled "A Key Stage in the Main Implementation of China's Modernization – Strategic Plan for China's Economic and Social Development during the 15th Five-Year Plan Period," was jointly released by high-level national think tanks affiliated with the Party History and Documents Research Institute of the CPC Central Committee and the Xinhua News Agency.
During the 15th Five-Year Plan period (2026-2030), China will continue to implement the new development concept, allowing it to guide all reforms and development, thereby accelerating the formation of a new development architecture, the report said.
China will also develop new core industries and accelerate the growth of industrial clusters in strategic emerging industries, opening up markets worth several trillion yuan, the report said.
In addition to the emerging industrial sector, the initiative to expand and modernize the services sector is designed to more quickly transform and improve the economic landscape and create new space for economic growth, the report notes.
The report's authors also noted that in the next five years, China will strengthen infrastructure planning and develop future-oriented facilities to build an interconnected, synergistic, safe and efficient infrastructure system. -0-
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