. World News – AU – China’s Human Capital Base and Aug.. Five Year Plan – Daily Times

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The fifth plenary session of the Chinese Communist Party was held on May 29. October with the approval of the 14th. Five-year plan completed and officially adopted at the National People’s Congress in March 2021. The plan was worked out after more than two years of flimsy discussions. It is common for China to take at least two years to develop its five-year plan. The process begins with the pre-planned phase of the initial analysis by the ministries and the solicitation of input from think tanks, academics, experts, scientists, etc.. . Political parties are too invited to receive their contributions, indicating the inclusiveness of the process and all voices are heard equally. The 14th. Plan that followed the same practices is different in many ways. First, the plan is 100. Anniversary of the Communist Party, which is considered a milestone in the history of China. Second, it is preceded by the 15-year plan, which aims to achieve the goal of a moderately prosperous country by 2035. The plan will also outline the government and party’s efforts. It would therefore be important to implement the 14th. Plan to watch. Thirdly, the implementation of the dual circular economy model presented by President Xi Jinping will be presented. The dual circular economy model would be a very interesting intervention as China is going through a transformation to increase its domestic consumption. The model’s success will be appreciated long after the fierce opposition to China’s rise on a global scale. Fourth, China is now seeking green development by transforming its technology and replacing fossil fuels. The plan will include details of how China will move along the way. Fifth, the plan will determine the future course of innovation as it is designed to meet the goals of a moderately developed country.

The focus is on improving work ethics through various policy initiatives. Students must learn to do physical labor. It is consistent with five goals of President Xi i’s vision. e. Morals, intellect, physical skills, aesthetics and work ethics

In the 14th. Five-year plan, the proposed investment in human capital would determine the fate of the next development phases in the country. It is a generally accepted fact that countries with better human capital perform better in innovation and technological development. Human capital also helps countries move from one stage of development to the next. Since education and health are the key drivers of human capital, these are the countries with better education
and health systems are making good progress. China has always focused on education and health, and views both indicators as keys to development and welfare. Prime Minister Zhao Enlai once said:

Among other things, that the vast majority of Chinese intellectuals had become the working people’s intellectuals and that science and technology would play a key role in modernizing China&.

It was the primary insight he put forward in order to reassure the nation that China is on the right track and ready to go. China invested equally in health and achieved tremendous success, especially in terms of life expectancy. The statistics show that life expectancy in China was 35-40 years and reached 65 in 1949. 89 years 1978. After the reforms of 1978, education and health were the basis for rapid development in China. Decades of investment in human capital paid off in the form of China’s progress and prosperity.

Given the experience of investing in human capital over the past four decades, China recognizes the importance and use of high quality human capital in the next stages of development. Hence, it has begun to transform its human capital in the light of new research under the leadership of President Xi Jinping, who has defined three very specific goals for education;. H. . e. 1) reconciling education and development status of the country, 2) observing national culture and values, and 3) learning hard work. He said China needs to focus on education and skills according to the country’s level of development. It requires continued focus on reform as China is growing rapidly. He also stressed the importance of opening up and international cooperation to further sharpen skills.

The goal of learning hard work is of course the most important part of the Chinese educational vision. Various policy initiatives emphasize the need to improve work ethics. Students must learn to do physical labor. It is consistent with five goals of President Xi i’s vision. e. Morals, intellect, physical performance, aesthetics and work ethics [work]. Prime Minister Li Keqiang reiterated the same, saying the state will prioritize the allocation of resources, including financial resources, to education.

In 2019, China issued 5017. 5 RMB for education, that’s 8. 74 percent higher than last year. China is equally focused on health, viewing it as a basic human right and an element of growth. President Xi takes this as a priority area as he said, « A healthy population is a key feature of a prosperous nation and a strong country. « . According to the World Health Organization, China’s total allocation rose 300 percent from 2009 to 2017.

The blueprint of the 14th. Five-Year Plan paints a brightened picture where the state will encourage partnerships between educational institutions and the private sector to achieve the goal of innovation and create better jobs for the youth. It will introduce the habit of hard work and physical participation on site and give young people a sense of job security. Educational institutions are also given more autonomy to make decisions at the institutional level. Extensive reforms are being carried out in the health sector to further improve health and life expectancy. Life expectancy has already reached 76. 96 percent in 2020.

The government will also ensure serious disease insurance at rural and urban levels. Not only will this help ease the burden on families, but it will also result in a healthy society.

The proposed measures in education and health will help produce human capital that can match President Xi’s vision. However, a detailed action plan is expected by March 2021. The detailed plan will not only help paint a comprehensive picture of the future Chinese vision, but also support policy action.

China, Xi Jinping, Joe Biden, Chinese Communist Party

World News – AU – China’s Human Capital Base and Aug.. Five Year Plan – Daily Times
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Ref: https://dailytimes.com.pk

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