Xi stresses importance of innovation, restructuring

Innovation, economic restructuring and consumption should be priorities when the nation maps out its 13th Five-Year Plan, President Xi Jinping said on Thursday during a trip to Zhejiang province.

Policymakers should clearly understand the risks and challenges facing the economy and give careful consideration to difficulties and complexities when drawing up the plan for 2016 to 2020.

This is the last year of the 12th Five-Year Plan, and the central government is currently devising its development policy for the 13th plan, the first to be produced by the new leadership under Xi.