China : Mid-Term Evaluation of China's Eleventh Five-Year

This mid-term review has been undertaken
to assess progress in the implementation of the Eleventh
Five-Year Plan (11th 5YP) during its first two years and a
half, draw preliminary lessons, and make recommendations for
policy adjustments. The review examines the following
strategic objectives: ensuring the stable operation of the
macro economy and improving living standards; optimizing and
upgrading of industrial structure; increasing energy
efficiency; coordinating urban and rural development;
improving basic public services; and enhancing sustainable
development. Domestically, natural disasters-the severe
storms, winter and the massive earthquake in Sichuan-took a
heavy toll. Externally, global demand has slowed owing to
the slump in the United States (U.S.) housing market and the
related credit crisis and increased risk aversion.
International oil, food, and other commodity prices have
soared. These developments pose new challenges. But they
also reinforce the appropriateness of the policy priorities
of the 11th 5YP to increase the economy's resilience
and ensure sustainable growth. The objectives and tasks set
out in the 5YP are consistent with China's development
challenges and government priorities Moreover, the
quantitative indicators generally accord well with the
overall guiding principles, orientations, and objectives,
suggesting that these have been successfully put into operation.