Fostering Quality, Green Development in the People's Republic of China
INTRODUCTION
In a departure from a long-standing previous emphasis by the People's Republic of China (PRC) on the speed of economic growth, the PRC's 14th Five-Year Plan for National Economic and Social Development for 2021–2025 (the Plan) and its 2035 Vision highlight high-quality and green development. The Plan also focuses on achieving eco-sustainability in growth and improving the quality of life.1 The government focus in pursuit of these overall goals includes innovation-driven growth, low-carbon development, rural vitalization, social inclusion, and improved services for the aging population and public health care.2 The current Asian Development Bank (ADB) country partnership strategy (CPS) for 2021–2025 reinforces support for the Plan goals through three strategic priority pillars: environmentally sustainable development, climate change adaptation and mitigation, and aging society and health security.3 These development priorities mean new directions for ADB’s investments and engagement in the PRC and an emphasis on innovative financing that aligns with operational priorities and strengths
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