China

NPC closes and approves five year plan


Published

The National People’s Congress (NPC) concluded its annual deliberations today (Monday 14th March 2011) by approving the 12th Five Year Plan for National Economic and Social Development.

Premier Wen Jiabao has defended the decision to drop the annual growth target from 7.5% to 7% for the period 2011 – 2015 saying that it was not a low target and that the government had to balance between the speed of economic growth, job creation and the need to control inflation.

The NPC is, in effect, China’s parliament.

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