(Yicai Global) Dec. 2 -- China's cabinet has laid out an ambitious five-year plan to build the Yangtze River Delta, an area already close to Russia and India in terms of economic size, into a highly developed regional hub.
Published yesterday, the State Council's blueprint calls for near full fifth-generation wireless coverage, more spending on research and development, and some environmental goals being met by 2025. The plan also maps out visions for the region, which embraces Shanghai and the eastern provinces of Jiangsu, Zhejiang and Anhui, that go as far as 2035.
Last year, the region had 253 million residents and its gross domestic product was CNY21.15 trillion (USD3.01 trillion).
By 2025, the ratio of the region's R&D spending to its gross domestic product should increase to 3 percent, under the plan. Its high-tech industries' output value should make up 18 percent of the total, while residents' average life expectancy should be extended to 79 years.
The plan also seeks to boost connectivity. The 358,000-square-kilometer region should have 80 percent 5G coverage in five years. It railway network density ought to reach 507 km per 10,000 sqms, while that for highways should reach 5 km for every 100 sqms. The outline also has environmental goals related to PM2.5 density and energy consumption per unit of GDP.
So far the region's annual R&D expenditure, as well as its number of invention patents, making up about one-third of the nation's total. That also goes for the value of its trade, as well as inbound and outbound foreign direct investment.
Editor: Emmi Laine