Caixin
Oct 30, 2020 08:39 PM
ECONOMY

China’s Next Five-Year Plan Downplays Rapid GDP Growth, Emphasizes Tech Independence

The communique offers the first glimpse of the governing party’s planned social and economic policies and targets for the next five years.
The communique offers the first glimpse of the governing party’s planned social and economic policies and targets for the next five years.

China’s top leaders have approved an economic and social blueprint for the coming five years that emphasizes quality growth over rapid expansion, and prioritizes domestic demand and technological independence in the face of rising external challenges.

The broad outline of the country’s 14th Five-Year Plan covering 2021 to 2025 was released by the Communist Party on Thursday after a four-day closed-door meeting in Beijing, according to a communique (link in Chinese) released by the official Xinhua News Agency. The meeting also signed off on long-term targets for the economy by 2035.

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