Development plan has global significance

Experts around the world are busy reading China's new Five-Year Plan (2011-2015), a detailed national development strategy for the coming years that has both domestic and global significance.

That the plan is in the spotlight is the result of globalization and China's growing economic strength and its efforts to lead the world's economic recovery after the global financial crisis.

Concluding its annual session, the National People's Congress (NPC) of China on Monday endorsed the 12th Five-Year Plan for National Economic and Social Development in 2011-2015, which proposes that China should promote scientific development and accelerate the transformation of the pattern of economic development.