China’s new blueprint firmly grasps reform and innovation

RECENTLY, the 20th Central Committee of the Communist Party of China (CPC) convened its fourth plenary session in Beijing.

- WANG XIAO

The Recommendations of the CPC Central Committee for Formulating the 15th Five-Year Plan for Economic and Social Development was adopted after deliberations at the session, charting a new course and mapping out a new blueprint for China's development.

The session gave a positive assessment of China's major development achievements during the 14th Five-Year Plan period (2021-2025) and clarified the strategic positioning and development goals for the 15th Five-Year Plan period (2026-2030). It not only demonstrates China’s firm determination to pursue sustained progress but also injects stable expectations and brings development opportunities to a world experiencing turbulence and transformation.

An extraordinary journey has forged brilliant accomplishments. During the 14th Five-Year Plan period, in the face of a complicated international landscape and the challenging domestic tasks of advancing reform, promoting development, and ensuring stability, China has effectively addressed a series of major risks and challenges, and achieved significant new achievements in the cause.

In the first four years of the 14th Five-Year Plan period, China’s economy achieved an average growth rate of 5.5%, ranking among the top of the world’s major economies. Its gross domestic product (GDP) exceeded 130 trillion yuan in 2024 and is expected to reach around 140 trillion yuan (about $19.7 trillion) this year.

The strength of scientific and technological innovation has been significantly enhanced. Major national strategic projects covering space and marine exploration have made frequent appearances.