Plenum, five-year plan setting tone for the future

The 20th Central Committee of the Communist Party of China convened its fourth plenary session from Oct 20 to Oct 23.

Participants deliberated and adopted the central committee's recommendations for formulating the 15th Five-Year Plan (2026-30), according to a communique of the session.

This plenary session was important because it set the strategic direction for the formulation of the country's comprehensive economic and social development blueprint for the next five years.

The fourth plenum's work has set the tone for China's development in the coming years.

The tone is already quite clear. The communique, the recommendations of the CPC Central Committee on formulating the new five-year plan, and President Xi Jinping's explanation of the recommendations all underscore the Party's vision of continued growth joined with strengthening the nation's security and social equity.

The goal is quite clear — basically achieve socialist modernization by 2035. It will be accomplished by consistent and disciplined policies.

The communique's call to "optimize and upgrade traditional industries … cultivate and expand emerging and future industries … (and) promote high-quality and efficient development of service sectors" reflects the Party's belief that a structural transformation of China's economy is necessary to lead the country into a new growth model.

The model moves China away from overreliance on property, investment and debt-fueled growth, and toward an economy powered by priorities discussed in the communique: world-class industries and technological innovation.

The plenum also provided a sober assessment of the tasks ahead, noting that China "remains in a phase of development where strategic opportunities exist alongside risks and challenges, while uncertainties and unforeseen factors are rising".

The gathering discussed major issues directly related to the formulation of the development blueprint for the next five years, which will be a crucial phase for the country to consolidate the foundation and make all-out efforts for basically achieving socialist modernization.

The meeting offers the world a glimpse of China's road map for the coming years, as it addresses global competition while strengthening the nation's real economy, advancing technological self-reliance, promoting demand-driven growth, expanding reform and opening-up, and ensuring China's security alongside an emphasis on ecological civilization and the green transition.

From China's First Five-Year Plan (1953-57) to the ongoing 14th Five-Year Plan (2021-25), each has centered on the goal of building China into a modern socialist country. At the 20th CPC National Congress in 2022, the Party outlined its long-range objectives for building China into a modern socialist country and put forward the goal of advancing the rejuvenation of the Chinese nation through Chinese-style modernization. China's development during the 15th Five-Year Plan (2026-30) period will bring the country a step closer to achieving that goal.

The plenum's communique reveals a confident China. Details of the recommendations and Xi's explanation express the nation's resolve to secure "decisive progress toward basically achieving socialist modernization".

Some key concepts that stood out from the meeting's communique include taking advantage of strategic opportunities, elevating scientific self-reliance, emphasizing a strong domestic market, pursuing green transformation, and maintaining the pursuit of common prosperity, institutional opening-up and new quality productive forces.

Based on these concepts raised in the communique, it is reasonable to expect the new five-year plan to introduce major initiatives in industrial policy, technological breakthroughs, market system reform and green transition.

The fourth plenary session of the 20th CPC Central Committee marks an important moment in China's current political life. By adopting the recommendations for formulating the 15th Five-Year Plan, China is positioning itself for what it terms the "crucial period" ahead for socialist modernization.

The author is a professor of political science at the University of Texas at San Antonio.

The views do not necessarily reflect those of China Daily.