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A key focus of the Fifth Plenary Session of the 19th Communist Party of China (CPC) Central Committee, held in Beijing from October 26 to 29, was the blueprint of the 14th Five-Year Plan (2021-25), which will be an essential guide for Chinese development for years to come.
This plan is a set of major adjustments as China continues to pivot away from export-led growth and implements the dual circulation strategy—which consists of making the country more self-sufficient, increasing domestic demand, and simultaneously maintaining opening up and Chinese exports for the near-long-term at least.
This adjustment arrives with the convergence of three factors—longstanding needs, new pressures associated with Washington’s China containment efforts and threats of decoupling, and a very fluid global situation due to the novel coronavirus disease (COVID-19).
Plenaries were always closely watched affairs, both in and outside China, and their importance has accelerated even more so this year. Indeed, China’s status as a rising power vis-à-vis the U.S. as a declining power has meant it is seen as the anchor of the Asian century.
It has become the manufacturing capital of the world, the emerging global health superpower, and by some measures, the world’s most advanced technological society, all means that others in the world increasingly look to China to be a driver of solutions to global problems.
Read full article: CPC and the Roadmap for Future
A key focus of the Fifth Plenary Session of the 19th Communist Party of China (CPC) Central Committee, held in Beijing from October 26 to 29, was the blueprint of the 14th Five-Year Plan (2021-25), which will be an essential guide for Chinese development for years to come.
This plan is a set of major adjustments as China continues to pivot away from export-led growth and implements the dual circulation strategy—which consists of making the country more self-sufficient, increasing domestic demand, and simultaneously maintaining opening up and Chinese exports for the near-long-term at least.
This adjustment arrives with the convergence of three factors—longstanding needs, new pressures associated with Washington’s China containment efforts and threats of decoupling, and a very fluid global situation due to the novel coronavirus disease (COVID-19).
Plenaries were always closely watched affairs, both in and outside China, and their importance has accelerated even more so this year. Indeed, China’s status as a rising power vis-à-vis the U.S. as a declining power has meant it is seen as the anchor of the Asian century.
It has become the manufacturing capital of the world, the emerging global health superpower, and by some measures, the world’s most advanced technological society, all means that others in the world increasingly look to China to be a driver of solutions to global problems.
Read full article: CPC and the Roadmap for Future
