China's 15th Five-Year Plan to focus on innovation, green transition
New Delhi, June 26
China's 15th Five-Year Plan will focus on innovation, domestic consumption, industrial upgrading, green energy and further opening up to the world, speakers said at the World Economic Forum's 17th Annual Meeting of the New Champions in Dalian.
The plan is expected to provide the policy direction for businesses, investors and global partners as China navigates technological changes, demographic shifts and evolving global supply chains.
Guo Lanfeng, President of the China Society of Economic Reform, said China remains focused on economic development, with high-quality growth, reform and innovation as key drivers.
He said the country needs to strengthen the foundation of economic growth while addressing demographic changes and adapting to an increasingly complex global environment.
Highlighting the global importance of the plan, Adam Tooze, Director of the European Institute at Columbia University, said, "Here we are in 2026 discussing the 15th Five-Year Plan of the People's Republic of China - and that is not how many of us expected the 21st century to work out."
Tooze added, "I could not recall a five-year plan watched as closely as this one." He said China's plans have evolved into important governance tools, with its industrial growth and export capabilities closely tracked worldwide.
Yuen Yuen Ang, Alfred Chandler Chair of Political Economy at Johns Hopkins University, said the 14th and 15th Five-Year Plans represent China's shift from an investment- and export-led growth model to one centred on high-quality development.
She said the country is focusing on strengthening innovation while ensuring it creates jobs, supports commercialisation and boosts domestic consumption.
Speaking on domestic demand, Guo said higher-quality employment, stronger social security, increased household incomes and a better consumer environment are essential to boost spending.
"If we really want to stimulate household consumption, we first need to ensure people have money to spend," Guo said.
On the green transition, Wu Zuyu, Chairman of HiTHIUM, said the new energy storage sector is moving from policy-driven growth to market-driven expansion.
He said declining costs of solar, wind and energy storage technologies will make green power more competitive over the next five years while improving energy security.
On overseas expansion, Wu said companies with competitive advantages should build local operations and work closely with international partners.
"Cooperation holds the key," Wu said.
— ANI
Reader Comments
China's 15th Five-Year Plan sounds impressive on paper—innovation, green transition, opening up. But as someone who follows global geopolitics, I'm a bit skeptical. China's "opening up" has been selective, especially after the trade wars and tech restrictions. The fact that they're now focusing on domestic consumption shows they're feeling the pinch of demographic decline and global supply chain shifts. For India, this is both a warning and an opportunity. We have a younger workforce and a growing market—let's use it wisely. 🇮🇳
The part about "strengthening social security" and "higher household incomes" for boosting consumption is so true. In India too, we talk about Make in India and startups, but if people don't have money in their pockets, no amount of policy will create demand. Green energy transition is also crucial—if China can make solar and wind cheaper, it benefits the whole world, including us. But let's not forget, India is also a major player in renewable energy now. Let's compete healthily! 💪
I find it amusing how the West is now watching China's Five-Year Plan so closely—Adam Tooze's comment says it all. Twenty years ago, nobody cared. Now China's industrial policy and green tech exports are shaping global markets. For India, the challenge is to not get left behind. Our manufacturing sector needs a similar push, but without the heavy-handed state control. We have democracy and a young population—that should be our advantage. Hope our policymakers are taking notes.
"Cooperation holds the key" — I agree with that sentiment from Wu Zuyu. But let's be real, cooperation has been tough when China uses its economic might to pressure neighbors, including us. Still, on green energy and climate tech, there's room for collaboration. India and China together can accelerate the global green transition. Just wish the geopolitical trust was stronger. Anyway, let's focus on
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