China to Emphasise Innovative Development in the 13th Five-Year Programme Period

The guideline for the 13th Five-Year Programme (FYP) is an important document, which sets as its top agenda promoting innovative development to sustain China’s long-term prosperity. The government also identified key task areas such as reforming state-owned enterprises (SOEs), overhauling China’s fiscal arrangement and promoting further economic opening. However, the government’s commitment to reform China’s zombie SOEs remains doubtful. Moreover, the implementation faces challenges, including ambiguity in guiding principles and bureaucratic inertia.