China’s “institutional strength” will help the country tackle “major tests” over the course of the next five-year plan, analysts and state media have said.
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The country’s latest development plan, which is due to start next year and run until 2030, comes at a time when Beijing is facing increasing obstacles to its long-term ambitions both at home and abroad – particularly its intense rivalry with the United States.
China’s first five-year plan was introduced in 1953. The country has since strengthened its resilience, making it far better equipped than before to navigate challenges, according to Zheng Yongnian, dean of the public policy school at the Chinese University of Hong Kong, Shenzhen.
“During the 14th five-year plan period [which ends this year], we faced numerous ‘black swan’ events – from Donald Trump’s trade war to international geopolitical conflicts – all of which were unforeseen, yet China pulled through.
“The 14th plan was far from easy, but as we move into the 15th, there is now a greater sense of certainty,” Zheng told The Beijing News.
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“Our institutional strengths and economic foundation – these sources of certainty – give us greater confidence and ability to bravely face the major tests amid high winds, rough waves and even raging storms of the 15th five-year plan period,” Zheng added, using language that closely followed a communique published last week after the fourth plenum – a major Communist Party meeting to discuss the new five-year plan.