By He Yin, People’s Daily
On Oct. 23, the fourth plenary session of the 20th Central Committee of the Communist Party of China (CPC) concluded successfully. The international community has closely monitored the session, recognizing the growing global significance of China’s five-year planning framework.
Worldwide confidence remains high that China will continue to serve as both a stabilizing anchor and a growth engine for the global economy. Many anticipate new opportunities brought by Chinese modernization.
The CPC’s practice of scientifically formulating and implementing five-year plans represents a cornerstone of its governance approach. These plans offer critical insight into China’s modernization path for the international community.
“China is a country that always plans for the long term. It truly is a forward-looking nation,” remarked former Italian Prime Minister Mario Monti, capturing the widespread admiration for China’s governance wisdom, which combines medium-term planning with century-long aspirations.
China’s transformative development – a historic achievement reshaping human progress – stems significantly from its disciplined execution of five-year plans. These frameworks leverage the strengths of China’s socialist system, enabling coordinated national implementation and policy continuity under a unified blueprint.
Since the launch of the first Five-Year Plan in 1953, China has transformed from an impoverished agrarian country into the world’s largest manufacturing hub and the second-largest economy. As the 14th Five-Year Plan period (2021-2025) concludes this year, this trajectory exemplifies how sequential five-year plan – combining long-term vision with practical implementation – have systematically advanced China’s modernization. Globally, these plans are recognized as valuable frameworks for nations studying China’s development model.
During the 14th Five-Year Plan period, China navigated volatile international conditions and domestic reforms while mitigating major risks. It converted high-quality development into stabilizing force against global uncertainty.
China’s economy is expected to grow 35 trillion yuan ($4.93 trillion) in total during the five years, with per capita GDP exceeding $13,000 for two consecutive years, placing the country among upper-middle-income countries. China has remained the world’s top manufacturing nation for 15 straight years and contributed around 30 percent of global economic growth annually.
Amid today’s crossroads of global instability, China sustains focus on its developmental priorities. By aligning national rejuvenation goals with emerging global dynamics, it provides growing certainty through consistent governance.
The Recommendations of the Central Committee of the CPC for Formulating the 15th Five-Year Plan for National Economic and Social Development, adopted at the fourth plenary session of the 20th Central Committee of the CPC, lays out the top-level design and strategic blueprint for the next five years. It marks another comprehensive mobilization and deployment to build on the momentum and carry forward the cause of Chinese modernization. The document combines strategic foresight with a pragmatic, problem-oriented approach, providing clear direction for China’s future development and reinforcing global confidence in China’s prospects.
Observers worldwide called the plenary session a meeting that will shape global markets over the next five years, saying such institutional arrangements enable China to advance national development efficiently and achieve long-term goals. They believe China is poised to create more development opportunities and offer valuable solutions for the world.
These views reflect a shared understanding that China, committed to sharing opportunities and pursuing common development with all countries, is increasingly seen as an “oasis of certainty” in a turbulent world, continuing to contribute to global stability, cooperation, and progress.
Socialist modernization can only be realized through a historical process of gradual and ongoing development. The period covered by the 15th Five-Year Plan will be critical in this process as China works to reinforce the foundations and push ahead on all fronts toward basically realizing socialist modernization.
Through strategic resolve and historical initiative, China aims to advance national rejuvenation while creating broader avenues for global peace and win-win cooperation.
