China highlights 15th Five-Year Plan at annual "Two Sessions" meeting
Beijing – China began its annual meeting known as the “Two Sessions” on Wednesday, 4 March. This year’s important political meeting has attracted significant attention as it will discuss a new development direction for the world’s second-largest economy.
More than 2,000 political advisers attended the opening of the fourth session of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC) of the 14th term. This body serves as the nation’s highest political advisory institution.
Wang Huning, chairman of the CPPCC National Committee, delivered a report on the performance of the CPPCC Standing Committee before President Xi Jinping and other party and state leaders at the Great Hall of the People in Beijing, China’s capital.
In his report, Wang noted that China had achieved substantial progress in its national modernisation process. He stated that the country had successfully met various major targets for economic and social development set for 2025, whilst completing the 14th Five-Year Plan (2021-2025).
Wang called on political advisers to consistently gather public support, build broader consensus, and mobilise collective ideas and strength in 2026 to ensure a good start for implementing the 15th Five-Year Plan.
The CPPCC plays an important role in the multi-party cooperation mechanism and political consultation system under the leadership of the Communist Party of China (CPC). Its members come from diverse backgrounds, including political parties, civic organisations, independent figures, and various professional sectors such as scientists, entrepreneurs, doctors, teachers, and lawyers.
The CPPCC session is scheduled to run until 11 March. Meanwhile, the session of China’s highest legislative body, the National People’s Congress (NPC), began on Thursday, 5 March.
Collectively, these two meetings are known as the “Two Sessions”. This annual agenda is widely regarded as an important window for understanding China’s political dynamics, governance system, and future policy direction.
Over the coming week, political advisers will conduct intensive discussions on the draft 15th Five-Year Plan and present various proposals based on their respective expertise. This consultative process has proven effective: in 2021, when China completed the 14th Five-Year Plan and long-term development targets through 2035, input from parliamentary members and political advisers resulted in 55 revisions to the final document.
Nan Cunhui, a national political adviser and chairman of an intelligent energy solutions company, stated that the process goes beyond merely improving policy details. “It is also an opportunity to build consensus, unite strength, and motivate all parties to achieve the goals of the next five-year plan,” he said.
Each meeting typically focuses on key indicators such as gross domestic product (GDP) targets, defence budget, and foreign policy signals. However, this year’s greatest attention is focused on formulating the 15th Five-Year Plan. Parliamentary members will discuss the draft plan over the coming days. Once adopted, the document will guide China’s development through the end of this decade.
The plan is also expected to accelerate China’s progress towards its long-term goal of becoming an advanced modern socialist nation across various fields by mid-21st century.
Geostrategist Imran Khalid, in an opinion article published in Eurasia Review on 28 February, stated that the 2026 “Two Sessions” agenda has the potential to become a turning point for the direction of the global economy. According to him, China’s new development plan could drive a shift towards a more advanced economic future based on technology and domestic consumption, with broad, even global, impacts.
Beyond discussing economic direction, the legislative agenda during this political season also includes discussions on several draft laws, including an environmental code, draft law on ethnic unity and advancement, and a national development planning bill. The environmental code discussion is considered relevant as China approaches its target to peak carbon dioxide emissions by 2030.
The formulation of the 15th Five-Year Plan continues the tradition of national development planning that has characterised China since the early 1950s. Analysts view the five-yearly planning cycle as helping the government allocate resources more strategically and maintain continuity in development policy. With this approach, development direction can proceed incrementally and remain relatively stable, rather than experiencing drastic policy shifts.
Wu Fenggang, a national political adviser and industrial economist from the Jiangxi Institute of Socialism, stated that the new plan has a strong foundation built during the 14th Five-Year Plan period. “Major achievements, such as renewable energy development, give us confidence to move to the next stage,” he said.
In 2025, China’s GDP exceeded 140 trillion yuan (1 yuan = £0.10 approximately). Various other development indicators, such as labour productivity, urbanisation rate, average life expectancy, and national research and development spending, have also reportedly met or exceeded targets.
Nevertheless, China is expected to face several challenges. From an external perspective, geopolitical tensions, increased protectionism, and global economic slowdown could all potentially affect the country’s growth. Internally, China also faces various issues including demand pressures.