China will pursue innovation-driven development and accelerate the modernization of its industrial system by strengthening its science and technology research capability in the next five years, according to government reports released on Friday.
China aims to expand its economy by over 6 percent in 2021, building on strong tailwind from success in containing COVID-19, as lawmakers gather in Beijing to map out priorities for high-quality development.
China will keep its fiscal policy basically stable and make no sharp turns in 2021, the finance minister said Friday. The country will lower the deficit ratio and quota of the local government special bonds from last year.