The fifth session of the 13th Zhejiang Provincial People's Congress commences in the provincial capital of Hangzhou on the morning of Jan 26. [Photo/zjol.com.cn]

The draft document for The 14th Five-Year Plan (2021-2025) for National Economy and Societal Development in Zhejiang Province was released and reviewed at the fifth session of the 13th Zhejiang Provincial People's Congress in the provincial capital of Hangzhou on Jan 26.

The blueprint sets out a number of ambitious targets for Zhejiang to reach by 2025: Zhejiang's gross domestic product (GDP) reaches 8.5 trillion yuan ($1.3 trillion) and its GDP per capita tops 130,000 yuan; the industrial value-added created by digital economy accounts for around 60 percent of the province's GDP; the urbanization rate for the permanent residential population reaches around 75 percent; the ratio of R&D expenses to the GDP reaches around 3.3 percent; life expectancy surpasses 80 years; the income ratio of urban residents to rural residents falls below 1.9; Zhejiang forms an olive-shaped social structure, with the bulk made up of the middle-income group.

The blueprint also provides a number of guiding principles for Zhejiang to comply with throughout the 14th Five-Year Plan period, including: building an innovation-driven economy; pursuing balanced and coordinated development between different regions; being a pioneer in the country's efforts to build an ecological civilization; consistently boosting consumption, investment, and foreign trade; safeguarding public welfare; as well as taking precautions against various risks involving food, resources, economy, and public security.