China has entered from one phase to another phase with flying colours. A journey that marks the conclusion of the 14th five-year plan (2021-2025) and the commencement of the 15th five-year plan (2026-2030) instils deep satisfaction amid challenges.
In the manner China demonstrated quality resilience and robust strength to get over internal, regional and global irritations during the past five years and sailed well ultimately, it has an innate astuteness to advance seamlessly in the next five years-indeed, it will be swarmed with daunting and multi-faceted challenges.
The last plan was the pride and joy. The targets that encompassed science & technological marvels, agriculture’s upward trajectory, food security, growth landscape, national unity, poverty reduction, social progression and global influence were attained with grit and valour. The previous five years also laid super focus on the Global South, left high and dry by other Global West’s top international players.
Technological innovation, green transformation, advancement in new quality productive forces and the digital economy are the markers of a new stage.
China’s economy showed strong resilience and momentum during the 14th Five-Year Plan period (2021-2025), with total economic output projected to increase by more than 35 trillion yuan (about $4.89 trillion). Such steady achievements have demonstrated the fact that China’s domestic economy has progressed with improved favourable policies, diversified investment landscape and stronger business participation, favouring domestic-International dual circulation. China’s internal economic landscape also surged on the iron-willed push of R&D strategies.
China’s circle of friends has also expanded, with diplomatic relations established with a total of 183 countries. Owing to amicable gestures, countries of the Global South developed more congenial relations with China. In September last year, leaders from China and Africa successfully convened the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) in Beijing, setting forth plans to enhance China-Africa cooperation in the new era. More events are likely to be held between China and other members of the Global South nations in the upcoming months to address development and other global challenges.
China has also driven multiple factors, including demographic dividends, resource endowments, policy openness and globalisation, in order to let the Global South emerge as a new engine for global economic growth and a key growth point for trade. During the 15th Five-Year Plan period (2026-30), with rapid changes in geopolitical, geoeconomic and geostrategic arenas, China will have to strike a balance between the global south and the global north because any friction will cost a lot.
It is a crucial phase for the country to take the momentum of the 14th Five-Year Plan to new heights, consolidating the growth trajectory upward to realise socialist modernisation with grace.
The period will derive a fresh connotation of the new globalisation paradigm that will hold sway over the traditional globalisation paradigm established after World War II, dominated by the United States and jointly advanced by Western developed nations. The shift will set into motion a new global order that will allow global powers to grow together.
In global trade, the general perception prevails that the share of South-South trade will continue to rise. Data indicates that the share of global GDP accounted for by emerging economies and developing countries has risen to 41.23% in 2024. It is projected that the share of global GDP of the Global South will reach 43.71% by 2029. A five-year plan will see developing nations’ economic growth significantly outpace developed economies.
China’s economic power has risen dramatically. In 1952, China’s GDP was only USD 67.91 billion, but in 2024 it exceeded USD18.4 trillion. It is highly likely that as momentum continues, China’s GDP will rise steadily. Meanwhile, China will also continue its journey of being the world’s second largest economy, largest manufacturer, largest trader in goods, second largest consumer of commodities and largest holder of foreign exchange reserves. It will also uphold its position as a contributor of around 30 per cent to global economic growth and a stabilising force on national & international horizons despite the volatility, instability, and uncertainty in the global economy.
Propelled by strong accomplishments during the 14th Five-Year Plan (2021-25) period, China’s economy is cruising into a significant stage for high-quality development to be guided by the 15th Five-Year Plan (2026-30).
Over the next five years, China will stick to national rejuvenation, seeking Chinese modernisation. Technological innovation, green transformation, advancement in new quality productive forces and the digital economy are the markers of a new stage.
China’s NEV sector has witnessed explosive growth over the past decade. In 2014, just 120,000 NEVs were on the road. By the end of June 2025, the total number of NEVs on China’s roads had reached 36.89 million, representing 10.27 per cent of the nation’s overall automobile fleet. We can expect to observe the NEV’s rapid expansion that reflects the country’s broader push toward a greener transportation system, driven by advances in NEV technology, expanding charging infrastructure, and growing consumer demand for cleaner mobility solutions.
The focus will shift to high-quality development, transforming innovation from quantitative accumulation to qualitative leaps, turning new quality productive forces into organic drivers of growth, and improving the quality of people’s lives.
China will also ensure the development in the areas of artificial intelligence (AI), quantum computing and aerospace exploration. Major scientific and technological projects with strategic, systemic, and forward-looking significance are expected to be launched.
Realising the dual carbon goal, China will concentrate on a green industrial revolution. Non-fossil energy is expected to account for about 25 per cent of primary energy consumption.
During the upcoming years, digital development will move from the consumer internet to deeper industrial applications, and 5G/6G integrated networks will expand nationwide, while industrial internet identification systems will cover all major sectors. A foundational system for data as a key economic resource will be fully established.
There is bound to be an advancement in the internationalisation of the yuan from a settlement currency in international trade to investment and reserve currency, with the yuan’s offshore markets being expanded across multiple locations in the world.
Despite perpetual challenges from external “decoupling” and protectionism, and domestic economic pressures, experience suggests that such economic issues will prove to be an impetus for further reform, and external pressure can help drive internal upgrades. By deepening reforms, expanding openness, and adhering to the innovation-driven strategy, China is expected to achieve new breakthroughs in high-quality economic development over the next five years.
On the global stage, China is fully active in playing a positive and influential role, runnung vibrant initiatives like building a community with a shared future for mankind, the Belt and Road Initiative (BRI), the Global Development Initiative (GDI), the Global Security Initiative (GSI), and the Global Civilisation Initiative (GCI), offering solutions for global governance and challenges.
China’s commitment to global security is also evident in its participation in peacekeeping missions and anti-piracy efforts. Since 2008, the Chinese People’s Liberation Army (PLA) has sent 46 escort task groups to the Gulf of Aden and waters off Somalia, providing escort for some 7,300 Chinese and foreign vessels and conducting diverse tasks, including anti-terrorism, anti-piracy, joint search and rescues, and evacuations.
During the upcoming years, it is hoped that China will remain a major contributor to both UN peacekeeping assessments and the UN’s regular budget, and the largest troop-contributing country among the permanent members of the UN Security Council.
Over the past 75 years, under the strong leadership of the Communist Party of China, the country has made magnificent progress in social and economic development. Having built on previous achievements and experiences, China will take centre stage by increasingly interconnecting with the global economy and offering significant opportunities to the rest of the world.
Eventually, credit goes to President Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee, for playing an anchoring role in shaping China’s blueprint, which set the tone and vision for the development of China, more public-centric, socialist democratic and economically progressive domestically and globally.
The writer is a senior Journalist. He is also President of Institute of International Relations and Media Research (IIRMR).