-- Nearly 30 provinces, autonomous regions, and municipalities have set this year's economic growth target at more than 6 percent.
-- The keywords at China's local legislative sessions, such as 5G use, digital currency, and carbon peak, highlight the country's new momentum for its high-quality growth.
BEIJING, Feb. 3 (Xinhua) -- As of Wednesday, most provincial-level regions had held their annual legislative sessions, putting forward new keywords in their development blueprints for this year and the coming five years.
The new buzzwords, such as 5G use, digital currency, and carbon peak, highlight the country's new momentum for its high-quality growth in line with China's new development philosophy and paradigm.
GROWTH TARGETS
Nearly 30 provinces, autonomous regions, and municipalities have set this year's economic growth target at more than 6 percent.
Guangdong, Jiangsu, and Shandong provinces, among the country's major economic powerhouses, aimed for a more than 6 percent expansion in 2021. The growth targets of other provincial-level regions generally range from more than 6 percent to more than 9 percent.
Central China's Hubei Province, hit hard by COVID-19 last year, and the southern Hainan Province targeted a double-digit growth of more than 10 percent.
The local growth targets showed the resilience and potential of China's economy. It adds certainty to the world amid a global recession, said Liang Qidong, vice president of the Liaoning Academy of Social Sciences.
Growing 2.3 percent year on year in 2020, China's economy will likely see a faster recovery and mild transitions in macro-policies in 2021, a year of multiple challenges at home and abroad, according to Zhang Yuxian, an expert with the State Information Center.
DUAL CIRCULATION
The "dual circulation" development pattern, in which domestic and overseas markets reinforce each other, with the domestic market as the mainstay, was another keyword phrase in this year's local government reports.
Liaoning Province in northeast China said it would actively integrate its development into this paradigm, building itself into a central hub for economic and trade cooperation in Northeast Asia. The province will also introduce new reforms in its free trade zone and accelerate Sino-German and Sino-UK industrial park construction.
