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BEIJING, Sept. 4 -- The State Council, China's cabinet, has held a meeting on compiling the 13th Five-Year Plan (2016-2020) for economic and social development, according to a document released Thursday.

"It is the last five-year plan for the country to complete the construction of a moderately prosperous society in all respects by 2020 and for achieving decisive results in deepening reforms," said Premier Li Keqiang, who presided over the meeting.

In compiling the new plan, the government should consider the profound changes in the international environment, the new realities of China's development and emerging risks and challenges, Li said.

China should continue to take development as the top priority, put emphasis on reform and innovation and seek greater progresses in promoting scientific development, transforming development pattern and resolving deep-seated problems, the Premier said.

Li said that the country should combine long and short term goals, deal with current challenges and resolve long-term problems.

"The plan should not only focus on the five years and reflect diversified goals for building a moderately prosperous society by 2020, but consider development prospects in the longer term," he said.

The Premier also stressed restructuring, streamlining administration and delegating power to lower levels, scientific innovation and opening up to the outside world to "make the economy more efficient, society more equitable and development more sustainable."