China's 15th Five-Year Plan to focus on innovation, green transition

New Delhi [India], June 26 (ANI): China's 15th Five-Year Plan (2026-2030) will focus on innovation, domestic consumption, industrial upgrading, green energy and further opening up to the world, speakers said at the World Economic Forum's 17th Annual Meeting of the New Champions in Dalian.
The plan is expected to provide the policy direction for businesses, investors and global partners as China navigates technological changes, demographic shifts and evolving global supply chains.
Guo Lanfeng, President of the China Society of Economic Reform, said China remains focused on economic development, with high-quality growth, reform and innovation as key drivers.
He said the country needs to strengthen the foundation of economic growth while addressing demographic changes and adapting to an increasingly complex global environment.
Highlighting the global importance of the plan, Adam Tooze, Director of the European Institute at Columbia University, said, "Here we are in 2026 discussing the 15th Five-Year Plan of the People's Republic of China - and that is not how many of us expected the 21st century to work out."
Tooze added, "I could not recall a five-year plan watched as closely as this one." He said China's plans have evolved into important governance tools, with its industrial growth and export capabilities closely tracked worldwide.
Yuen Yuen Ang, Alfred Chandler Chair of Political Economy at Johns Hopkins University, said the 14th and 15th Five-Year Plans represent China's shift from an investment- and export-led growth model to one centred on high-quality development.
She said the country is focusing on strengthening innovation while ensuring it creates jobs, supports commercialisation and boosts domestic consumption.
Speaking on domestic demand, Guo said higher-quality employment, stronger social security, increased household incomes and a better consumer environment are essential to boost spending.
"If we really want to stimulate household consumption, we first need to ensure people have money to spend," Guo said.
On the green transition, Wu Zuyu, Chairman of HiTHIUM, said the new energy storage sector is moving from policy-driven growth to market-driven expansion.
He said declining costs of solar, wind and energy storage technologies will make green power more competitive over the next five years while improving energy security.
On overseas expansion, Wu said companies with competitive advantages should build local operations and work closely with international partners.
"Cooperation holds the key," Wu said. (ANI)