Xi Jinping, general secretary of the Communist Party of China Central Committee, chaired a meeting of the Politburo of the CPC Central Committee on Friday to discuss the draft 15th Five-Year Plan for Economic and Social Development as well as the draft report on the government's work. The document will be submitted to the State Council of the People's Republic of China for consideration at the annual session of the All-China People's Congress.

Participants stressed that the implementation of the objectives of the 14th Five-Year Plan (2021-2025) was taking place in very challenging conditions. However, after five years of intensive efforts, the main goals and objectives have been successfully achieved. It was noted that the country's economic strength, its scientific and technological level and overall national strength had reached a new level. China-style modernization has made significant progress, and the realization of the goal of the second century has begun with good momentum.

It was also pointed out that the period of the 15th Five-Year Plan (2026-2030) will be crucial for consolidating the foundation and comprehensively accelerating the fundamental realization of socialist modernization.

At the same time, participants in the meeting said that Xi Jinping's ideas on socialism with Chinese characteristics must be consistently applied in the coming period in the new era. Economic development with an emphasis on high quality was identified as the core task of the state. Innovation and reform are to be the main driving force for further growth, while meeting the growing needs of the population remains a fundamental objective. Consistent and rigorous Party management was identified as a key guarantee for achieving the Plan's objectives. The aim is to simultaneously raise the quality of the economy and ensure its stable quantitative growth, promote all-round human development and gradually achieve common prosperity.

During the meeting, the need for more active fiscal policy and for maintaining a reasonably flexible monetary policy were emphasised. The discussion also focused on strengthening coordination between reforms and macroeconomic policy. Key challenges include building a strong domestic market, accelerating the development of new engines of growth, achieving a high level of scientific and technological self-sufficiency, deepening reforms in key sectors and further expanding high-level openness. Promoting comprehensive rural revitalisation, the development of a new type of urbanisation and coordinated regional development are also important elements.

CMG