The Five-Year Plan for National Economic and Social Development, or the Five-Year Plan, mainly aims to arrange national key construction projects, manage the distribution of productive forces and individual sector¡¯s contributions to the national economy, map the direction of future development, and set targets.

From 1949 to 1952, the economy was in its so-called recovery period. In 1953, the central government implemented its first five-year plan. Except for a period of economic adjustment between 1963 and 1965, a total of ten five-year plans have been made and implemented to date.
 

(For more biz stories, please visit Industry Updates)