The tenth plenary session of the 12th Wuxi Municipal Committee of the Communist Party of China, held in Wuxi on Dec 28-29, approved a proposal on Wuxi's 13th Five-Year Plan (2016-2020) by the Wuxi Municipal Party Committee.
To revive its industrial economy and cultivate a new highland of modern industries within the next five years, Wuxi will adopt six strategies: to develop through innovation, to strengthen Wuxi with industries, to open in all directions, to promote new-type urbanization and urban-rural integration, to develop sustainably and to jointly build and share with others.
Among them, to strengthen Wuxi with industries is the dominant strategy.
Industries are the foundation of economic development and the crux of a city's strength. Therefore, Wuxi has to revive its industrial economy by relying on emerging industries, advanced manufacturing industries and modern service industries, according to a direction submitted by the Wuxi economic and information technology commission this August.
In December, Wuxi decided to allocate 20 billion yuan ($3.08 billion) to support the city’s modern industry development over the next five years.
On the basis of the past five years' achievements, Wuxi also released its GDP target for the next five years at the conference – to double its 2010 GDP by the end of 2020.
In addition, the government plans to double the per capita annual income of urban and rural resident from 2010 levels by 2020, to 12,000 yuan. It will offer financial aid to over 70,000 low-income families and support some 100 villages with under 2 million yuan in annual income.
