CPC Unveils Proposal for Five Year Plan

The Communist Party of China（CPC） has issued the full text of proposal for Chinas development over the next five years.

The eight-chapter， 22，000-characterplus document， the CPC Central Committees Proposal on Formulating the Thirteenth Five-year Plan （2016-2020） on National Economic and Social Development， was adopted at the Fifth Plenary Session of the 18th CPC Central Committee which ended on Oct. 29.

The next five-year period was described as decisive for building a moderately prosperous society by 2020 in the proposal.

China aims to double its 2010 GDP and the 2010 per capita income of both urban and rural residents by 2020.

The document analyzes the decisive stage and sets guidelines and targets for the next five years. It highlights innovation， coordination， green development， opening up and sharing.

Ensuring a “moderately prosperous society” by 2020 requires medium-high economic growth， higher living standards and a better quality environment， the proposal says.

China will continue to encourage mass entrepreneurship through major scientific and technological projects， and by building a number of national laboratories， in the hope that it will lead to new technology. The government plans better allocation of resources including labor， capital， land， technology and management.

There will be more official moves to upgrade the economy into a global manufacturing power， cultivate strategic industries and modernize the agricultural and service sectors. The government will intervene less in price formation， deregulating pricing products and services in competitive sectors.

The proposal calls for a system to control consumption of energy， water and construction land. It promises an“energy revolution” with clean， safe resources replacing fossil fuels， including wind， solar， biomass， water， geothermal and nuclear energy， as well as exploring deposits of natural， shale and coal bed gas. Energy-intense industries， such as power， steel， chemical and building ma- terials will be subject to carbon emission control regulations.

The proposal vows to lift more people out of poverty， saying that alleviating poverty in rural areas is the most difficult aspect of building a well-off society.

The proposal promises a “healthy China” by reforming the health system， and promotes the balanced development of its population through the two-child policy. The proposal calls for retaining family planning as a basic state policy， allowing all couples to have two children， while improving public services for reproductive health， maternal and child health， nurseries and kindergartens.

Families with difficulties who implement the family planning policy should be helped， the proposal says.

The document pledges to cement achievements made in the anti-corruption campaign and tightened supervision and checks over power， in addition to working out an effective mechanism to stem corruption.

China Splashes $17 Bln Deal on 130 Airbus Planes

China signed a deal to buy 130 planes from Airbus Group SE worth $17 billion， intensifying its competition with Boeing Co. in whats projected to become the worlds biggest aircraft market.

The agreement for 30 twin-aisle A330 and 100 single-aisle A320 planes was signed Thursday during a Beijing meeting between Chinese Premier Li Keqiang and German Chancellor Angela Merkel. The purchase was among a number of deals signed at the meeting.

Airbus and Boeing Co. are competing to carve up whats expected to become the worlds largest airplane market within the next 20 years. Chinas economic growth and the emergence of budget airlines are making air travel affordable to more people， prompting carriers such as Air China Ltd. and China Southern Airlines Co. to expand their fleets.

“They need those aircraft，” said Shukor Yusof， founder of Endau Analytics consultancy in Singapore. “Chinese demand for travel is growing and China will need more planes to meet that demand.”

China has encouraged foreign plane makers to expand their local footprints as its own fledging aerospace industry takes shape. Airbus assembles A320s， most of which go to the Chinese market， at a factory in Tianjin. The European plane maker said in July it was finalizing an agreement with Chinese authorities to build a completion center for A330 planes.

In July， Airbus won an order for 45 A330s， with options for 30 more.

The latest announcement comes after Boeing won an order last month for 300 jets from Chinese carriers and lessors. Boeing said at the time it would soon open its first Chinese plant for 737 single-aisle planes.

Chinese airlines will need 6，330 new planes in the next 20 years， worth some$950 billion， according to a Boeing forecast.

China will become the worlds big- gest air travel market by 2034， with one in five passengers traveling to， from or within the country， the International Air Transport Association said in April. About 70，000 flights -- some 10%of world total -- operate to， from， or within mainland China every week， or according to IATA.

By 2020， there will be 13 Chinese airlines with more than 100 planes in their fleets， up from six carriers as of November 2014， the CAPA Centre for Aviation said last year. China Southern is Asias biggest carrier by fleet size with over 400 planes， which moved more than 100 million passengers last year.

C919 Gets ICBCs Backing in Marketing Globally

ICBC Financial Leasing Co， Chinas biggest financial leasing company， is to start promotingsales of the domestically built C919 airliner--the narrow-body aircraft being produced byCommercial Aircraft Corporation of China Ltd.

The first prototype of the C919， to be used for test flights， was off the assembly line on Monday atCOMACs Shanghai factory.

ICBC Financial Leasing is so far the C919s biggest individual launching cli- ent， having placed 45orders. But Cong Lin， its chairman， says it will be taking an active part in promoting the aircraftinternationally， after the two sides signed a strategic agreement at the 2015 China Aviation Expoin Beijing in September.

Cong said some of its other foreign clients had expressed interest in placing orders for theC919， after Bangkok-based City Airways recently signed an option for 10 of the aircraft through ICBC Financial Leasing.

“The City Airways orders show the international market is receptive to China-made aircraft，” Cong said.

Jiang Bo， the head of aviation finance at ICBC Financial Leasing， said that with an establishednetwork of more than 40 overseas clients across six continents， the company has a strongadvantage in promoting the C919 globally.

“Our experience on the international market could prove invaluable for this and other China-madeairplane manufacturers， in their efforts to expand globally，” Jiang said.

The leasing companys international talents offer financial and consulting services to overseasclients in both Beijing and Dublin of Ireland， which is an important center for global aircraft leasingindustry， Jiang said.

The company is also able and willing to provide financing solutions to other C919 clients， hesaid.

Initially， COMAC has focused on C919 sales at home and in the AsiaPacific and Africa， butJiang now expects that to expand quickly to other markets.

“We are including the promotion of the C919 within our own global marketing activities，” he said， “but we are realistic that we have to be patient.”

Jiang said the C919 could prove a hard-sell globally given that it is still only at the test-flightstage， with conceivably many months of testing ahead before the aircraft can start being built in numbers and delivered.

Industry insiders have confirmed that potential international clients have been hesitant， andsuggested that COMAC has been slow too with its own global marketing.

Zhang Yugui， dean of the school of economics and finance at Shanghai International StudiesUniversity， said：”It has focused for years on manufacturing， but a solid marketing and serviceinfrastructure is yet to be put in place.”

China Approves 237 Fixedasset Investment Projects in Jan-Oct

Chinas top economic planner approved 237 fixed asset investment projects with totalinvestment reaching 1.89 trillion yuan in the first 10 months of this year， an official said Nov. 12.

The amount represented 4.25% of the countrys total fixed asset investment in the sameperiod.

In October， the National Development and Reform Commission （NDRC） approved 19 projectswith an investment of 86.4 billion yuan， covering water conservancy， transportation， technologyand energy sectors， Shi Zihai， head of the NDRCs policy research office said at a press conference.

Those projects will help coordinate regional development， save water and improve quality of life， Shi said.

The government cut interest rates and the reserve requirement ratio several times this year， reduced taxes and resorted to the key role of investment in stabilizing growth.

In the third quarter， Chinas economy expanded by 6.9%year on year， the lowest quarterlygrowth in six years.

Le Vision Pictures Expands Hollywood Reach

Le Vision Pictures， the Los Angelesbased Chinese-owned film studio， has further boosted its presence in Hollywood.

The third-largest private film studio in China by total box office has bought the rights from Lionsgates epic fantasy feature Gods of Egypt for release in China and unveiled an inaugural 10-strong slate from Los Angeles-based offshoot Le Vision Pictures USA.

Zhang Zhao， vice-chairman of Letv and CEO of Le VP， said that by acquiring Gods of Egypt-directed by Alex Proyas and starring Gerard Butler-for distribution in China， it will take advantage of its online-to-offline marketing and distribution model that has proved successful with Hollywood franchises， such as The Expendables 2 and 3， which were co-financed and distributed by Le VP.

The 10 films are mostly fantasy or sci-fi versions of classic stories， such as 8 Immortals-Portal to the Demon World， which follows a teen outcast and his friends after giant demons invade Beijing.

Others include King of Kings， an epic fantasy depicting the war between two Chinese Gods， Peony Pavilion， a fantasy romance adaptation of a Chinese romantic tragedy， and a reinterpretation of the iconic opera Turandot.

The only realist film is The Valley Life， adapted from a best-selling Chinese web novel portraying how Chinese programmers and engineers studying abroad come to realize their American dreams in Silicon Valley.

Except Zodiac： The Year of the Snake， which involved Jayson Rothwell as screenwriter and Bernie Goldmann as a producer， Le VP did not reveal its Hollywood partners for the other nine films or any time frame for production.

Le VP USA has also teamed up with Rob Minkoff， director of The Lion King and Mr. Peabody & Sherman， to codevelop and produce a live-action comedy， Silkworms， and an animated feature， Wolf Totem.

The company recently partnered with Dark Horse Comics， which Zhang said introduces a “next-generation Internet IP” model that “opens up more opportunities across platforms and devices to leverage intellectual properties with global franchise potential”.

Dark Horse Comics is expected to produce comics or animations of six popular Chinese online serial novels that Le VP USA has acquired.

The novels， which have garnered more than 400 million hits in China， including The Path to Immortality， The Descendants of Straw Mountain， Gods of China， The Naughty Queen， Magical Days， and Paranormal Activity Investigation Unit.

Zhang said the contents will be released on all Letvs terminal platforms， including smartphones， iPads and television.

China has the largest market and is a rich source of film stories， while Hollywood has the largest film-production resources， he said.

Le VP has aimed to create a platform for both China and the US， the worlds two largest consumer markets， as the studio combines film-equity investments， Chinese distribution and globalproduction capabilities， said Zhang.

Le VP is currently in production of The Great Wall， the highest-budget USChina coproduction to date， directed by Zhang Yimou and starring Matt Damon， with Legendary East and Universal Pictures.