(Yicai Global) Oct. 30 -- The fifth plenary session of the 19th Central Committee of the Communist Party of China concluded Thursday proposed major social and economic development targets for the 14th Five-Year Plan period (2021-2025).

China will strive to make new strides in economic development during the period, according to a communique released after the session.

The country aims to realize sustained and healthy economic development on the basis of a marked improvement in quality and efficiency, with growth potentials to be fully tapped.

The domestic market will become stronger, the economic structure will be further improved, and the innovation capacity will be significantly strengthened.

The industrial base will be upgraded, and the industrial chain will be further modernized, according to the communique.

China will see more solid foundation for agriculture, and more balanced development between urban and rural areas and between different regions. The country will also make great progress in developing a modernized economy.

With new steps to be taken in reform and opening up, China will further improve its socialist market economy and basically complete the building of a high-standard market system.

Market entities will show more vitality, and significant progress will be made in the reforms of the property right system and the market-based allocation of factors of production.

With the fair competition system to be further improved, China will basically form the new institutions of a higher-level open economy.

China's social etiquette and civility shall be further enhanced, while the core socialist values shall be embraced by the people. A significant improvement is expected to be made in people's intellectual and moral integrity, cultural and scientific qualities, as well as physical and mental health.

The systems of public cultural service and cultural industries will be further advanced, with rich cultural and intellectual activities organized for the public. The influence of the Chinese culture will be increased, and the Chinese nation's cohesiveness will be further strengthened.

China aims to make new progress in building an ecological civilization, optimize the development and protection of territorial space, and achieve notable results in green transformation of production and lifestyle.

The country will allocate energy and resources more appropriately and raise utilization efficiency. It will continue reducing emissions of major pollutants and improving ecological environment, make ecological security shields more solid, and greatly improve urban and rural living environment.

The well-being of the people will reach a new level. China will achieve fuller and higher-quality employment, with personal income growth basically in step with economic growth, and marked improvements in distribution structure.

The country will also see much more equitable access to basic public services. The education level of the entire population will be continuously improved, while the multi-tiered social security system and health system will be further enhanced.

Efforts will also be made to consolidate achievements scored in the fight against poverty and fully promote the strategy of rural vitalization.

China will further enhance governance capacity, improve socialist democracy and the rule of law, and demonstrate social fairness and justice. The national administrative system will be perfected, the role of the government will be better played, and the administrative efficiency and credibility will be significantly strengthened.

The country will step up the level of social governance, especially at the community level, continuously improve the systems and mechanisms to forestall and defuse major risks, greatly enhance the capability to respond to public emergencies and prevent natural disasters, strengthen security guarantee for development, and make major strides in the modernization of national defense and the armed forces, according to the communique.

Editor: Chen Juan