DHARAMSALA, 27 Oct: The central committee of China’s ruling Communist Party, led by Chinese President Xi Jinping are discussing China’s economic blueprint for the next five years — from 2021 to 2025.
The fifth plenum session of the 19th Communist Party Central Committee (CCP) opened on Monday in Beijing and will commence till 29 Oct.
The Plenum rolls out China’s economic plan for 2021 -2025, and its policy framework by which China will be governed during the period.
More than 300 CCP delegates attended the opening day of the plenum to establish the guidelines of the 14th Five-Year Plan (2021-2025), and those of a medium-term strategy renamed “Vision 2035,” the half-way mark to China 2050, the year when China intends to become a fully modernized, socialist nation and a great power in the world, particularly in science and technology and in defence.
The plenum, experts say holds a special significance to President Xi as it came at a time where the world still continues to grapple with the COVID-19 pandemic that originated from China, and for which China was widely condemned for its handling during the initial outbreak.
Additionally, Xi will seek to build on eight years in which he abolished term limits and consolidated political power.
The Chinese President has reportedly launched a strategy called the “dual circulation” to counter the effects of the pandemic and the implications of the trade war with the US, “decoupling” and to promote self-sustaining growth following its COVID-19 crisis.
Other possible areas of discussion at the confidential meeting, the Chinese State-run Global Times said will include achieving independence in key areas, such as scientific research and finance as well as Xi’s pledge to go carbon neutral by 2060.