(Editor’s Note: This article reflects the views of the author, Karim Badolo, and not necessarily those of CGTN.)
China is preparing to formulate its 15th Five-Year Plan (2026–2030) for national economic and social development. The 4th Plenary Session of the 20th Central Committee of the Communist Party of China (CPC), scheduled from October 20 to 23, will be largely dedicated to this task. It is worth recalling that a five-year plan refers to a general process of forward-looking economic planning with broad objectives spread over five years. It is revised annually based on the results achieved. China’s five-year plan represents a national strategy adopted by the authorities to guide various socio-economic development initiatives. It serves as a roadmap that clearly defines social development and economic growth policies, identifies investment sectors, and outlines government priorities.
The 14th Five-Year Plan period (2021–2025) marks the first five years in China’s new journey toward building a modern socialist country in all respects.
This practical planning guide has enabled China to achieve significant results across various sectors over the past five years.
In the field of renewable energy, the 14th Five-Year Plan has significantly contributed to strengthening the country’s energy supply security and its transition to a green, low-carbon economy. Guided by the Plan, China has substantially increased its wind and solar energy production capacity, accelerated the construction of hydropower plants, and developed several complementary multi-energy clean energy bases. These efforts have raised the share of non-fossil energy to 20% of total energy consumption in China. Today, China holds over 40% of global patents in renewable energy technologies and has established the world’s largest and most comprehensive industrial chain in the sector. Major renewable energy projects accounted for 1.2 trillion yuan in investments in China in 2024. Under the 14th Plan, nine major energy bases have been built, including the world’s largest pumped-storage power station in Fengning, Hebei Province, and the Baihetan hydropower station in Sichuan Province. Vast desert areas have also been transformed into “energy oases” through solar power installations. China’s total installed renewable energy capacity has reached 2.1 billion kilowatts, nearly 60% of the country’s total installed capacity. Today, one out of every three kilowatt-hours consumed in society comes from clean renewable sources.
China’s cultural industry has also experienced sustained growth under the 14th Five-Year Plan. According to data from the Ministry of Culture and Tourism, in 2024, the total assets of China’s cultural industry reached 34.4 trillion yuan (approximately $4.84 trillion). Over the past year, total revenues exceeded 19 trillion yuan, generating a total profit of 1.77 trillion yuan. In parallel, the country has worked to enhance the global influence of Chinese culture. In 2024, China’s total cultural trade volume was estimated at 1.4 trillion yuan. Increasingly, Chinese cultural products such as animation games and designer toys have gained popularity abroad.
In the healthcare sector, the 14th Five-Year Plan promoted appropriate measures to ensure reasonable drug pricing. For example, the administration addressed cases of irregular drug pricing by encouraging pharmaceutical companies to correct their practices. A total of 566 companies received formal notices with orders to adjust the prices of 726 medications across various specifications. Measures were also taken to regulate drug prices both online and in physical pharmacies. The administration supported high-quality medical innovation while respecting companies’ autonomy in setting drug prices, maintaining strict oversight to preserve market order.
In terms of business creation, the 14th Five-Year Plan has been a key driver in increasing the number of enterprises in China. Since its implementation, the business environment has steadily improved, stimulating entrepreneurial vitality nationwide. During the 14th Plan period, China recorded an increase of approximately 20 million enterprises. According to statistics from the National Market Regulation Administration, around 34 million new self-employed businesses were registered during the same period.
Furthermore, the 14th Five-Year Plan earned the trust and support of national banking institutions. For instance, the China Development Bank increased its financial support for infrastructure projects. By August 2025, it had issued over 6 trillion yuan (about $843.81 billion) in medium- and long-term loans for infrastructure development. Between 2021 and 2025, the bank enhanced its resource support, introduced differentiated credit measures, and offered tailored financial services to advance the implementation of 102 key projects listed in the 14th Five-Year Plan, as well as major cross-sector and cross-regional initiatives. It backed projects aligned with national strategic goals and efforts to strengthen security capacities in critical areas. In short, it supported large-scale modernization programs for equipment and the recovery of consumer goods.
These examples, though not exhaustive, eloquently illustrate the achievements made under the 14th Five-Year Plan. This roadmap has further promoted Chinese modernization by supporting innovation across all sectors. It has strengthened national connectivity through the development of road, rail, air, and port infrastructure.
“We must continue to regard the realization of the people’s aspiration for a better life as the starting point and ultimate goal of modernization, work to uphold and promote social equity and justice, and strive to achieve common prosperity for all, while resolutely avoiding the emergence of social polarization,” declared Xi Jinping in the report presented at the 20th CPC National Congress on October 16, 2022.
During a meeting on the formulation of the 15th Five-Year Plan held on September 29, the Political Bureau of the CPC Central Committee emphasized the primacy of the people and called for respect for the people’s central role, so that the entire population may benefit more broadly and equitably from the fruits of modernization.
It is in this same spirit of supporting China’s continued development that the 15th Five-Year Plan (2026–2030) will be shaped. It is expected to focus on enhancing economic resilience and strengthening China’s technological and innovation capacities. The 4th Plenary Session of the 20th CPC Central Committee will provide further insight into its content.
(Photo: VCG)