"During the Seventh Five-Year Plan, 925 medium-and large-scale projects were scheduled. The government planned to allocate ¥1.3 trillion for fixed assets, an increase of 70 percent over the Sixth Five-Year Plan."
Yes, the average per year was lower - but the above number literally represents the entire China government budget for the 5 years in question and this was also 33-37 years ago (of inflation).
The goals of the Seventh Five Year Plan were a tad more ambitious:
"To increase gross national industrial and agricultural output by 38 percent within five years, or by an average annual rate of 6.7 percent, gross agricultural output by 4 percent a year, and gross industrial output by 7.5 percent.
To increase gross national output by 44 percent within five years, or by an average annual rate of 7.5 percent.
Production goals for major industrial and agricultural products by 1990 were: between 425 and 450 million tons for grain, 4.25 million tons for cotton, 550 billion kWh for electricity, 1 billion tons for raw coal, 150 million tons for crude oil, and between 55 and 58 million tons for steel. Freight volume was set at 9.4 billion tons.
Investment in fixed assets was set at 1,296 billion yuan, with fixed assets projected to grow by 600 billion yuan.
To increase total import and export volumes by 35 percent within the five years, while expanding the scale of foreign investment and advanced technology. Further, goals were set to increase the actual consumption of both urban and rural residents by 5 percent a year, and at the same time keeping the basic balance between the national budget, credit, material and foreign exchange."
What are the goals of the $108 billion in concrete terms?
How will this spending be measured and success/failure criteria judged?
Today I learned about the microplastics filter. Dan, Packy- thank you!
We are like the best at screwing things up and then scrambling to find a way to fix what we screwed up.
Ipoooooo
$108 billion in factory construction sounds like a lot until you consider that China spent 1.3 trillion renminbi = $375 billion in ... 1986-1990:
https://en.wikipedia.org/wiki/Technological_and_industrial_history_of_China
"During the Seventh Five-Year Plan, 925 medium-and large-scale projects were scheduled. The government planned to allocate ¥1.3 trillion for fixed assets, an increase of 70 percent over the Sixth Five-Year Plan."
Exchange rate in 1986 was 3.46: https://www.macrotrends.net/2575/us-dollar-yuan-exchange-rate-historical-chart
Yes, the average per year was lower - but the above number literally represents the entire China government budget for the 5 years in question and this was also 33-37 years ago (of inflation).
The goals of the Seventh Five Year Plan were a tad more ambitious:
http://www.china.org.cn/english/MATERIAL/157620.htm
"To increase gross national industrial and agricultural output by 38 percent within five years, or by an average annual rate of 6.7 percent, gross agricultural output by 4 percent a year, and gross industrial output by 7.5 percent.
To increase gross national output by 44 percent within five years, or by an average annual rate of 7.5 percent.
Production goals for major industrial and agricultural products by 1990 were: between 425 and 450 million tons for grain, 4.25 million tons for cotton, 550 billion kWh for electricity, 1 billion tons for raw coal, 150 million tons for crude oil, and between 55 and 58 million tons for steel. Freight volume was set at 9.4 billion tons.
Investment in fixed assets was set at 1,296 billion yuan, with fixed assets projected to grow by 600 billion yuan.
To increase total import and export volumes by 35 percent within the five years, while expanding the scale of foreign investment and advanced technology. Further, goals were set to increase the actual consumption of both urban and rural residents by 5 percent a year, and at the same time keeping the basic balance between the national budget, credit, material and foreign exchange."
What are the goals of the $108 billion in concrete terms?
How will this spending be measured and success/failure criteria judged?