China's 15th Five-Year Plan: Emphasis on New Quality Productive Forces
As the 14th Five-Year Plan concludes, China prepares to launch its upcoming plan focusing on economic growth and technological advancements.
This year marks the culmination of China's 14th Five-Year Plan (2021-2025), with the 2025 Government Work Report emphasizing the necessity of achieving the plan's objectives to establish a solid framework for the 15th Five-Year Plan (2026-2030).
The 14th Five-Year Plan has seen the successful attainment of major targets, notably the expansion of 5G access to over 90 percent of administrative villages, surpassing initial expectations by 10 percent.
Significant progress has also been reported in social welfare, agricultural modernization, ecological protection, transportation, and new energy sectors.
Throughout this five-year period, China has showcased resilient economic growth.
The country's average annual GDP growth rate stood at 5.5 percent from 2021 to 2024, exceeding the global average by nearly two percentage points.
This performance is attributed to the effective development of new growth drivers and consistent technological innovations.
During this timeframe, China's total economic output increased by over 30 trillion yuan (approximately $4.17 trillion), akin to the size of the entire Yangtze River Delta economy.
With the world's most comprehensive industrial system, China made significant advances in high-end equipment and high-tech manufacturing, exemplified by achievements in domestically produced large aircraft and enhanced supply chain resilience.
The nation has achieved comprehensive breakthroughs in various domains, including land, sea, air, and space technologies.
Important advancements in deep-sea exploration, the BeiDou Navigation Satellite System, and other essential technologies have fueled high-quality development, with the added value of patent-intensive industries surpassing 13 percent of GDP.
Strategic emerging industries have surged, driven by extensive digitalization.
Significant progress has been observed in artificial intelligence (AI) and quantum computing, with the last five years highlighting enhanced innovation capabilities, rapid growth in emerging sectors, and the flourishing of the digital economy.
In 2024, China's investment intensity in research and development reached 2.68 percent of GDP, marking a 0.1 percentage point increase from the previous year, and comfortably exceeding the EU average.
Investment in basic research rose by 10.5 percent on a year-on-year basis.
The added value of high-tech manufacturing enterprises expanded by 8.9 percent in 2024, featuring substantial growth in aerospace and electronics manufacturing.
Development in cutting-edge sectors such as AI, biotechnology, green technologies, and quantum technology is progressing rapidly, highlighted by advancements including humanoid robots and the 'Origin Wukong' superconducting quantum computer.
Meanwhile, traditional industries have reported encouraging outcomes from initiatives aimed at enhancing core competitiveness through smart and green innovations.
New consumption models and digital applications are emerging, propelling a 6.5 percent increase in online retail sales.
Infrastructure projects related to 5G and gigabit broadband are on schedule.
Amidst a dynamic global economic landscape and the challenges of domestic industrial restructuring, China's economy has demonstrated considerable robustness.
Its diverse strengths, structural resilience, and long-term growth potential furnish a strong foundation for future expansion.
The achievements of the 14th Five-Year Plan have set a solid groundwork for development in subsequent years.
The forthcoming 15th Five-Year Plan (2026-2030) is set to focus on the cultivation of new quality productive forces.
Key priorities identified include the expansion of domestic demand, enhancing the role of consumption in economic growth, generating high-quality employment opportunities, and raising household incomes.
Furthermore, China aims to deepen its commitment to high-level opening-up policies by promoting trade facilitation, encouraging liberalization, reinforcing international economic collaboration, and strengthening its role within global industrial and supply chains.
To foster new growth, China will expedite the intelligent and low-carbon transformation of traditional industries while cultivating integrated clusters of strategic future industries.
The integration of digital technology into everyday life is anticipated to enhance equitable access to public services, including governance, education, and healthcare.
The 14th Five-Year Plan has seen the successful attainment of major targets, notably the expansion of 5G access to over 90 percent of administrative villages, surpassing initial expectations by 10 percent.
Significant progress has also been reported in social welfare, agricultural modernization, ecological protection, transportation, and new energy sectors.
Throughout this five-year period, China has showcased resilient economic growth.
The country's average annual GDP growth rate stood at 5.5 percent from 2021 to 2024, exceeding the global average by nearly two percentage points.
This performance is attributed to the effective development of new growth drivers and consistent technological innovations.
During this timeframe, China's total economic output increased by over 30 trillion yuan (approximately $4.17 trillion), akin to the size of the entire Yangtze River Delta economy.
With the world's most comprehensive industrial system, China made significant advances in high-end equipment and high-tech manufacturing, exemplified by achievements in domestically produced large aircraft and enhanced supply chain resilience.
The nation has achieved comprehensive breakthroughs in various domains, including land, sea, air, and space technologies.
Important advancements in deep-sea exploration, the BeiDou Navigation Satellite System, and other essential technologies have fueled high-quality development, with the added value of patent-intensive industries surpassing 13 percent of GDP.
Strategic emerging industries have surged, driven by extensive digitalization.
Significant progress has been observed in artificial intelligence (AI) and quantum computing, with the last five years highlighting enhanced innovation capabilities, rapid growth in emerging sectors, and the flourishing of the digital economy.
In 2024, China's investment intensity in research and development reached 2.68 percent of GDP, marking a 0.1 percentage point increase from the previous year, and comfortably exceeding the EU average.
Investment in basic research rose by 10.5 percent on a year-on-year basis.
The added value of high-tech manufacturing enterprises expanded by 8.9 percent in 2024, featuring substantial growth in aerospace and electronics manufacturing.
Development in cutting-edge sectors such as AI, biotechnology, green technologies, and quantum technology is progressing rapidly, highlighted by advancements including humanoid robots and the 'Origin Wukong' superconducting quantum computer.
Meanwhile, traditional industries have reported encouraging outcomes from initiatives aimed at enhancing core competitiveness through smart and green innovations.
New consumption models and digital applications are emerging, propelling a 6.5 percent increase in online retail sales.
Infrastructure projects related to 5G and gigabit broadband are on schedule.
Amidst a dynamic global economic landscape and the challenges of domestic industrial restructuring, China's economy has demonstrated considerable robustness.
Its diverse strengths, structural resilience, and long-term growth potential furnish a strong foundation for future expansion.
The achievements of the 14th Five-Year Plan have set a solid groundwork for development in subsequent years.
The forthcoming 15th Five-Year Plan (2026-2030) is set to focus on the cultivation of new quality productive forces.
Key priorities identified include the expansion of domestic demand, enhancing the role of consumption in economic growth, generating high-quality employment opportunities, and raising household incomes.
Furthermore, China aims to deepen its commitment to high-level opening-up policies by promoting trade facilitation, encouraging liberalization, reinforcing international economic collaboration, and strengthening its role within global industrial and supply chains.
To foster new growth, China will expedite the intelligent and low-carbon transformation of traditional industries while cultivating integrated clusters of strategic future industries.
The integration of digital technology into everyday life is anticipated to enhance equitable access to public services, including governance, education, and healthcare.
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