CGTN: A Solid Start to China's 15th Five-Year Plan, What Does It Mean?
CGTN examines several factors supporting the resilience and dynamism of China’s economy. The Chinese government is intensifying reforms and open-door policies, strengthening self-reliance in science and technology, safeguarding industrial chains, and promoting domestic growth drivers—all forming the foundation of China’s economic performance at the start of the 15th Five-Year Plan period.
Beijing, (ANTARA/PRNewswire)—China’s economy has recorded a solid start to the 15th Five-Year Plan period (2026–2030) despite facing external pressures and trade turbulence. This was the conclusion of the Political Bureau of the Communist Party of China Central Committee meeting last Tuesday. Growth remains stable, industrial capacity continues to expand, and government policies are helping to maintain market expectations.
For an economy as large as China’s, the ability to sustain this momentum reflects not only resilience but also adeptness in adapting amid global dynamics.
The policy direction in the 15th Five-Year Plan is beginning to shift. Previously supported heavily by the property sector, land, and large investments, the focus of growth is now turning towards technology, innovation, and high-quality development.
By prioritising new productive forces—namely, high-tech, high-efficiency, and high-quality sectors aligned with green development agendas—China is not merely pursuing faster growth but higher-quality growth, with greater productivity, stronger competitiveness, and long-term sustainability.
From January to March, the high-tech manufacturing sector recorded significant growth. Profits rose by 47.4% and contributed 7.9 percentage points to the total industrial profit growth, according to data from the National Bureau of Statistics of China. The rapid development of artificial intelligence (AI) and semiconductors also drove this profit surge, including in optical fibre manufacturing (336.8%), optoelectronic devices (43%), and display devices (36.3%).
The 15th Five-Year Plan is also proceeding amid the continuation of open-door policies. China now has 23 free trade zones as pilot projects that contribute around 20% to foreign investment and trade. The negative list for foreign investment has been reduced to 29 sectors, and all foreign investment restrictions in the manufacturing sector have been removed.
The implementation of China’s open-door policy is now evident not only in trade volumes or foreign investment but is shifting focus towards institutional openness, broader market access, improved business climate, and alignment with international standards.
At the same time, domestic demand is increasingly playing a central role as the main engine behind economic growth. In a press conference on 17 April, the National Development and Reform Commission of China stated it would launch an action plan to boost domestic demand during the 2026–2030 period.
As the world’s second-largest economy, China’s domestic market holds enormous potential. Harnessing this potential will support more stable and sustainable growth. Strengthening consumption and domestic circulation is an important foundation in the development strategy.
Rather than chasing short-term gains, China is now arranging strategies to build a more balanced and resilient economy in the long term. The start of the 15th Five-Year Plan period is supported by several strengths: economic resilience, broader implementation of open-door policies, and the growing role of domestic demand.
All these developments reflect an adaptive and confident development approach. Challenges are not viewed as obstacles but as opportunities to renew the growth model and build a more dynamic economic future.