Chinese President Xi Jinping has opened a major Communist Party meeting in Beijing to set out the country’s economic and social development strategy for the next five years — a roadmap that will guide China’s direction through the rest of the decade and towards its long-term goal of “socialist modernisation” by 2035.
The fourth plenary session of the 20th Central Committee of the Communist Party of China (CPC) began on Monday, bringing together the country’s top leadership to discuss and approve the draft of the 15th Five-Year Plan, which will cover the period 2026–2030.
Xi delivers opening report
According to a brief dispatch from state news agency Xinhua, Xi, who is also General Secretary of the CPC Central Committee, delivered a work report on behalf of the party’s Political Bureau and “expounded on the Party leadership’s draft proposals” for the new plan.
While Xinhua provided no details of Xi’s address, the meeting is expected to finalise the framework for China’s next stage of economic and social development. The new plan will succeed the 14th Five-Year Plan (2021–2025), under which China has maintained steady growth despite a challenging global environment.
A blueprint for China’s next stage of growth
Since their introduction in 1953, five-year plans have served as central planning tools for China’s economic governance, setting the direction for national priorities, industrial strategies and policy goals across key sectors.
The upcoming 15th Five-Year Plan is seen as a critical phase in China’s drive to “basically achieve socialist modernisation” by 2035 and to become a “great modern socialist country” by mid-century.
High-quality growth and innovation at the core
Over the past five years, China has shifted from rapid expansion to high-quality development, driven by technological innovation and domestic demand. Between 2021 and 2024, the economy grew at an average annual rate of 5.5%, with total output expected to increase by over 35 trillion yuan (£3.9 trillion) during the 14th Five-Year Plan period — greater than the annual GDP of several major Western economies.
For the 2026–2030 period, the government is expected to place greater emphasis on fostering “new quality productive forces” — promoting advanced industries, cutting-edge technologies and scientific breakthroughs.
Xi has repeatedly underscored the importance of science and technology self-reliance, particularly in strategic fields such as semiconductors, artificial intelligence (AI), quantum computing and aerospace.
China’s “AI Plus” initiative is already driving innovation across industry and research, while recent advances in quantum technology, manned spaceflight and deep-space exploration have bolstered its position as a leading global innovator.
Boosting domestic demand
A key pillar of the next plan will be to strengthen domestic demand as the main engine of growth. Beijing has pledged to expand household consumption, enhance investment returns and stimulate new areas of the economy, including the “silver economy” (elderly care), the ice and snow tourism sector, and low-altitude aviation.
The plan will also focus on rural revitalisation and urban–rural integration, modernising agriculture, narrowing regional inequalities and promoting balanced development between cities and the countryside.
Green transition and global engagement
As a global leader in green technology, China is expected to continue its domestic green transition while playing a more active role in international climate action.
Officials have said the country aims to use its renewable technology expertise and cost-effective products to balance economic growth with sustainability — a recurring theme in China’s recent development plans.
Reform and opening up
The session is also reviewing progress on more than 300 reform measures announced at last year’s third plenum, designed to strengthen market mechanisms and advance high-standard opening up. These reforms are expected to be completed during the 15th Five-Year Plan period.
Beijing has signalled that it will continue to open its markets selectively, while retaining state oversight over key sectors such as finance, data management and strategic industries.
Long-term continuity and stability
Analysts say China’s five-year plan framework remains a defining feature of its political and economic system — offering long-term policy consistency that contrasts with the shifting priorities often seen in Western democracies.
“Five-year plans are a hallmark of China’s state-led development,” said one Beijing-based economist. “They ensure continuity and provide a clear sense of direction for the government, industries and investors alike.”
Looking ahead
With the 14th Five-Year Plan nearing completion, the next plan is expected to consolidate the foundations for China’s economic transformation — from industrial upgrading and digitalisation to greener, more sustainable growth.
Under Xi’s leadership, the CPC has positioned the 15th Five-Year Plan as a strategic bridge between current achievements and the 2035 target of full modernisation.
The plenary session will continue through the week, with an official communiqué expected to be released once discussions conclude.
Source: UNB/AP, Xinhua