The National People’s Congress of China approved this Thursday, 12th, the general guidelines of the XV Five-Year Plan (2026-2030), which will guide the country’s economic policy for the next five years, reinforcing the focus on technology and domestic consumption.
The document, approved at the end of the annual session of the Chinese legislative body, establishes as a priority “strengthening the role of domestic demand as the main driver of growth”, one of the most urgent challenges facing the world’s second largest economy after several years of relatively weak domestic consumption.
Analysts have pointed out that Chinese growth remains heavily dependent on exports and state investment, while household consumption remains limited due to relatively low wages, high housing costs and a weak social safety net.
While Chinese leaders recognize the need to stimulate domestic demand, the plan puts technological innovation at the center of economic strategy.
The text foresees “extraordinary measures” to achieve advances in sectors considered strategic, such as integrated circuits, industrial software and advanced materials, at a time of growing technological rivalry between Beijing and Washington.
Competition between the world’s two largest economies has intensified in recent years, especially in areas such as artificial intelligence, semiconductors, advanced computing and emerging technologies that are expected to shape the global economy in the coming decades.
For Beijing, reducing dependence on foreign technologies has become a strategic priority, especially after restrictions imposed by the United States on the export of advanced components to Chinese companies.
Investing in science and innovation has been one of the pillars of Chinese President Xi Jinping’s economic policy, who has repeatedly highlighted the importance of technological self-sufficiency to ensure the country’s economic security.
Chinese Premier Li Qiang announced at the beginning of the parliamentary session an economic growth target of between 4.5% and 5% for 2026, an objective considered relatively prudent that should give the government room to focus efforts on long-term structural reforms.
Experts expect Chinese authorities to gradually move forward with measures to stimulate consumption, including the expansion of social security and the healthcare system, although much of public resources will continue to be directed to technological sectors considered priority, including artificial intelligence, robotics, clean energy and advanced scientific exploration.
The Chinese legislative body also passed several laws during the annual session, including legislation related to ethnic minorities and other administrative areas, in a process in which votes are traditionally near unanimous and reflect institutional support for policies set by the Chinese Communist Party.
During a press conference on the sidelines of the parliamentary meeting, the Minister of Foreign Affairs, Wang Yi, stated that the country will continue to advance in economic and technological development despite the uncertainties on the international scene.
“We are moving forward at full speed in building a great country,” he declared.
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