Guangzhou released its 14th Five-Year Plan and development vision for 2035 on May 19th, highlighting the city's main economic and social goals for 2021-2025. It is aiming for an annual economic growth rate of about 6 percent for 2021-2025 and boosting its GDP to 3.5 trillion RMB (about 0.54 trillion USD) in 2025.

(Photo / Nanfang Daily)

According to the plan, Guangzhou will develop into a city with new vitality by 2025, and eight specific goals for (2021-2025) are put forward on economy, they will include, among others: innovation, environment and people's livelihood.

For instance, residents will enjoy basically the same income growth as economic growth, and the life expectancy will increase to 83 by 2025.

The city government expects that R&D spending will account for about 3.4% of the regional GDP, and the added value of strategic emerging industries will exceed 1.2 trillion RMB. It will also make progress on reform and opening-up, to develop into an international consumption center city and an international exchange center.

Aiming for a better ecological environment, the percentage of days with good air quality will reach 88% and the forest coverage rate will increase to 41.65% by 2025.

In addition, it is expected that the city’s function as an international comprehensive transportation hub will be enhanced within five years. In this period, the third phase expansion project of the Baiyun International Airport will be finished that will have three terminals to serve a 100 million passenger throughput in 2025.