Delegates to China\u2019s National People\u2019s Congress passed the 14th Five-Year Plan (FYP) and economic long term strategy out to 2035 with 99% support on 11 March, rounding out this year\u2019s \u2018two sessions\u2019 political meetings in Beijing.<\/p>\n
As is clear from the title, the FYP sets out the Chinese government\u2019s principal economic targets and policy priorities for the next five years. The 142-page long document contains 19 chapters, covering everything from advanced manufacturing to AI, from transport to toilets, and from the BRI to blockchain. The plan also outlines China\u2019s foreign policy priorities, while providing an indication for local governments as to which sort of investment projects will get the green light in future.<\/p>\n
By contrast, the 2035 long-term strategy is much less specific, and merely states China\u2019s general policy goals for the next fifteen years. Accordingly, the strategy \u2018hopes\u2019 that China\u2019s modernisation will be complete and that the country will have achieved middle-income status by then. It further assumes that China\u2019s greenhouse gas emissions will have peaked by the middle of the next decade.<\/p>\n