China Unveils New Five-Year Plan During National Peoples Congress Meeting

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China’s National People’s Congress (NPC) will convene this week at the Great Hall of the People in Beijing to unveil its 15th Five-Year Plan for 2026-2030. The plan, which outlines China’s economic agenda for the next five years, is expected to be released during the NPC meeting.

The last five-year plan was introduced in March 2021, following the COVID-19 pandemic. This year’s plan will address new challenges, including the economic fallout from the US trade war and the decline of consumer confidence at home.

The NPC is one of China’s most important political meetings, drawing 3,000 delegates from across the country. The meeting runs in parallel to the Chinese People’s Political Consultative Conference (CPPCC), which began on Wednesday.

Chinese Premier Li Qiang will share the latest Government Work Report this week, outlining the state of China’s economy over the past year and upcoming growth targets. According to the International Monetary Fund, China is expected to announce a gross domestic product (GDP) growth target of 4.5-5 percent for 2026.

The NPC has also been notable for the absence of at least 19 delegates whose credentials were revoked last week, signaling disciplinary action against them. This includes nine high-ranking military officers who have been dismissed by President Xi Jinping in recent years.

Analysts expect the five-year plan to focus on industrial self-reliance and technological development, with initiatives aimed at developing key sectors such as next-generation AI, advanced semiconductor production, and renewable energy. The plan will also address issues of “involution” or excessive competition.

The NPC is guided by the Chinese Communist Party’s (CCP) policy recommendations, although it has a separate role from the CCP in terms of legislative power. A forthcoming “Law on National Development Plan” is expected to codify the relationship between the NPC and the CCP.

Source: Al Jazeera