{"id":246068,"date":"2025-10-23T12:41:07","date_gmt":"2025-10-23T12:41:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/246068\/"},"modified":"2025-10-23T12:41:07","modified_gmt":"2025-10-23T12:41:07","slug":"chinas-unveils-overview-of-its-new-5-year-economic-plan","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/246068\/","title":{"rendered":"China&#8217;s unveils overview of its new 5-year economic plan"},"content":{"rendered":"<p>BEIJING (AP) \u2014 China\u2019s ruling Communist Party said Thursday it will focus on speeding up self-reliance in science and technology, a long-running push that has become more pronounced as the U.S. has imposed increasingly tight controls on access to semiconductors and other high-tech items.<\/p>\n<p>The announcement by state media came in a communique after <a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/china-xi-fourth-plenum-fiveyear-plan-0ed42da3658b1a4fa327155f332e9b4d\" rel=\"nofollow noopener\" target=\"_blank\">a four-day meeting<\/a> that approved a draft of the party\u2019s next <a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/china-plenum-xi-economy-trump-d4199ab46b9e9932d6264f0e5b6a05f5\" rel=\"nofollow noopener\" target=\"_blank\">five-year development plan<\/a>.<\/p>\n<p>China faces \u201cprofound and complex\u201d changes and rising uncertainty, it said. The communique did not directly mention the trade war with U.S. President Donald Trump. China\u2019s leader Xi Jinping is expected to meet Trump for talks in South Korea next week.<\/p>\n<p>Since returning to the White House, Trump has ramped up tariffs on imports in an effort to compel manufacturers to shift factories to the United States. That has added to pressure on the Chinese economy at a time when the leadership is struggling to resolve a prolonged downturn in the property market and stoke stronger domestic demand.<\/p>\n<p>But China has managed to keep exports growing by shifting to other markets, and the statement signaled the government is confident it can counter external threats with domestic policy tools, said Gary Ng, a senior economist at Natixis, a French investment bank.<\/p>\n<p>\u201cIt means China will likely demand more from the U.S. to reach a deal, if one is to be reached,\u201d he said.<\/p>\n<p>The communique contained few surprises, largely echoing <a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/china-plenum-economy-trump-b02543fda4ff61aeaa30b96419e0a06b\" rel=\"nofollow noopener\" target=\"_blank\">the policy direction<\/a> set out by Chinese leader Xi Jinping, who wants to build China into a tech leader and global power with a robust military able to command respect and exert international influence. <\/p>\n<p>It provided only a broad overview of the coming 2026-2030 five-year plan, indicating its scope without details. More information may be released in the coming days, but the full plan won\u2019t be known until March, when the legislature gives a rubber-stamp approval to the plan at its annual meeting.<\/p>\n<p>\u201cThe general impression of the communique is that it highlights much more continuity than change,\u201d said Xin Sun, a senior lecturer in Chinese and East Asian Business at King\u2019s College London. <\/p>\n<p>Ng said that compared to <a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/general-news-d046181a106413621761248660d47479\" rel=\"nofollow noopener\" target=\"_blank\">the previous plan<\/a> five years ago, the government is deepening its push for technological self-sufficiency, income redistribution and a transition to clean energy.<\/p>\n<p>The country\u2019s industrial policy has driven the rapid development of the electric car and wind and solar industries in recent years and has turned now to robotics and artificial intelligence.<\/p>\n<p>The party will \u201caccelerate the all-out green transformation of economic and social development,\u201d the statement said.<\/p>\n<p>It said that China would continue to boost domestic demand and spending, an objective that economists said is important for the country\u2019s economic growth, though it didn\u2019t signal any significant change to that approach.<\/p>\n<p>China has rolled out various policies to help increase consumption \u2014 such as subsidies for consumer loans and child care and trade-in programs for electric vehicles and appliances. Economists are watching for more measures to support consumption by the year\u2019s end.<\/p>\n<p>Beijing said this week it is still on a \u201csolid foundation\u201d to achieve its full-year official growth target of around 5%, after China\u2019s economy grew 4.8% in the July to September quarter.<\/p>\n<p>The meeting of the party\u2019s Central Committee was notable for the low number of deputies, an indication of Xi\u2019s deep purges among the Communist Party\u2019s top ranks. Out of 205 members, 168 attended the meeting, the communique said, along with 147 out of 171 alternates. Eleven alternates were made voting members to fill vacancies on the committee.<\/p>\n<p>The party meeting chose a replacement for China\u2019s second-highest-ranking general. He was <a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/military-officials-expelled-china-corruption-76d038816f5f5f9df4df05fa87e2e7e5\" rel=\"nofollow noopener\" target=\"_blank\">expelled from the party<\/a> along with eight other senior military officials on suspicion of corruption, the Defense Ministry announced just days before this week\u2019s meeting.<\/p>\n<p>Zhang Shengmin was named vice chair of the Central Military Commission, the top military body. He was already a member of the commission and holds the rank of general in the People\u2019s Liberation Army\u2019s Rocket Force. He is secretary of the commission\u2019s Discipline and Inspection Commission, which investigates corruption.<\/p>\n<p>The elevation of Zhang shows an emphasis on political loyalty and anti-corruption as Xi continues a push to modernize China\u2019s military, Sun said.<\/p>\n<p>___<\/p>\n<p>Wu reported from Bangkok and Chan reported from Hong Kong. Associated Press researchers Yu Bing and Shihuan Chen in Beijing contributed.<\/p>\n","protected":false},"excerpt":{"rendered":"BEIJING (AP) \u2014 China\u2019s ruling Communist Party said Thursday it will focus on speeding up self-reliance in science&hellip;\n","protected":false},"author":2,"featured_media":246069,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[1204,28,144,3327,1020,37948,12,101,134650,793,962,3139,111,965,6132,134649],"class_list":["post-246068","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-asia-pacific","tag-business","tag-china","tag-china-government","tag-communism","tag-corruption","tag-donald-trump","tag-economy","tag-gary-ng","tag-general-news","tag-government-policy","tag-international-trade","tag-politics","tag-world-news","tag-xi-jinping","tag-xin-sun"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/246068","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=246068"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/246068\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/246069"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=246068"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=246068"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=246068"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}