NPC deputy: China to see a strong start for the 15th Five-Year Plan period

China's economy is set to see a strong start for the 15th Five-Year Plan (2026-30) period, said Pan Jiaofeng, a deputy to the National People's Congress and president of the Institutes of Science and Development, which is part of the Chinese Academy of Sciences.

He told China Perspective during an exclusive interview that the 15th Five-Year Plan has been under long-term preparation, and this year marks a critical phase for its implementation. "A large number of policies will be rolled out intensively, and once introduced, they will naturally translate into benefits, thereby driving development."

He noted that China's development priorities and directions are already clear, including further expanding domestic demand and strengthening cooperation with different regions and countries internationally.

According to Pan, new growth points have already been formed through earlier cultivation. With intensive policy rollouts this year, these are expected to translate into tangible development achievements.

"I believe we will see a strong 'good start' for the next five-year plan period," he said.

Pan added that the upcoming five-year period will consolidate China's transformation achievements, adapt to opportunities brought by the global scientific and technological revolution and industrial transformation, and shape new development advantages.

"We remain very optimistic about the prospects for China's economic growth," he said.

Looking forward, Pan said China's economic development is built on a very solid foundation.

From a macro perspective, he noted that while China remains the second-largest economy in the world, there remain significant gaps in per capita GDP, which means "there is enormous space for further development".

Meanwhile, Pan said China has created a very large domestic market in recent years, which holds huge consumption potential. During the 15th Five-Year Plan period, this potential is expected to be further released and activated.

"The government is placing great emphasis on boosting consumption and has taken many measures in this regard. This will form a strong driving force for economic growth during the 15th Five-Year Plan period," he said.

He added that many traditional industries are upgrading from mid- and low-end positions toward the high end, achieving positive results. Industrial upgrading and the rise of emerging sectors have also given China significant global advantages.

"For example, we've seen the booming development of the 'new trio' — electric vehicles, lithium-ion batteries and photovoltaic products. In the coming five years, the new 'new trio' are also expected to emerge," he said.