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Five Year Plan

China’s Fifth Plenum: The 14th Five Year Plan and Vision 2035

China’s Fifth Plenum: The 14th Five Year Plan and Vision 2035

China’s Fifth Plenum: The 14th Five Year Plan and Vision 2035

China’s Fifth Plenum: The 14th Five Year Plan and Vision 2035

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Basilinna

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November 3, 2020

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For China watchers, there were perhaps no surprises in China’s announcement of the 14thFive Year Plan (FYP) as most of the content had been rolled out and foreshadowed over the past two years. The plan is ambitious and confident covering climate, tech self-reliance, promoting domestic demand (featured in the dual-circulation strategy), Taiwan, and more. Yet, this plan marks a fundamental paradigm shift to China’s economic trajectory, and contrary to the popular narrative, it does not mean that China is turning inward. In fact, there is quite a lot in this plan about opening-up aimed at attracting and retaining foreign investment, which has been increasing despite the deteriorating external environment China faces around the world.

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