Knowledge Highlights 18 May 2021
On 11 March 2021, China’s top legislature approved a development roadmap for the next five to 15 years at the closing meeting of the fourth session of the 13th National People's Congress. China has been issuing these roadmaps for social and economic development, known as “five-year plans”, since the 1950s. They map strategies for the country, put forward targets and set corresponding policy-making directions.
The Outline of the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035 (“Plan”) is the latest five-year plan to be issued.
The Plan was compiled based on proposals approved by the Central Committee of the Chinese Communist Party and published on 29 October 2020. The Plan, which consists of 19 chapters including 65 sections, clarifies the national strategic intent and the government’s priorities, and will serve to guide and regulate the behaviour of market players. It is an ambitious blueprint for China’s development in the following years.
This article sets out the key highlights of the Plan.