Experts hail China’s new blueprint as providing global opportunities, focusing on shared prosperity

China’s focus on high-quality development and opening-up in the next five years, as mapped by the fourth plenary session of the 20th Central Committee of the Communist Party of China, is providing “an anchor of stability for the world” in times of uncertainty, said international observers.

They said a “prosperous, progressive and open China” will bring benefits to its trading partners, build greater economic resilience through diversification, and promote regional cooperation to mitigate the impact of US tariffs.

China’s growth will create vast opportunities and new avenues for cooperation in areas such as technology, sustainable development, the green economy, and the digital economy, they added.

Their remarks came after the fourth plenary session of the 20th Central Committee of the Communist Party of China, which was held in Beijing from Oct 20 to 23, outlined China’s development blueprint for the next five years, signaling the nation’s readiness to share opportunities and pursue common development with the rest of the world.

According to a communique released on Oct 23, the session adopted the Recommendations of the CPC Central Committee for Formulating the 15th Five-Year Plan for Economic and Social Development, which provides a road map for the nation to pursue high-quality growth.

Lye Liang Fook, an associate senior fellow at the ISEAS-Yusof Ishak Institute based in Singapore, said the key thrusts of the 15th Five-Year Plan (2026-30) — focus on high-quality growth, self-reliance and resilience in science and technology, and further deepening reforms comprehensively — will raise the quality of development and bring China onto the next phase of development.

“Equally important, as China further deepens its reforms and improves its investment environment for local and foreign businesses alike, it can provide an anchor of stability for economic growth for Asia,” said Lye, adding that China’s emphasis on boosting domestic consumption “will be welcome news for other countries”.

The highlights of the communique include moving faster to develop a high-standard socialist market economy and boost the momentum for high-quality development, building a modernized industrial system, and reinforcing the foundations of the real economy.

Lynn Lin, a partner and head of China and Asia-Pacific at Moore Kingston Smith, a multidisciplinary advisory, tax, and audit firm based in London, told China Daily that they were pleased to see that promoting “high-standard opening-up and creating new horizons for mutually beneficial cooperation” was included in the communique of the plenum.

“China’s significant advancements in high-quality development, as well as in technology and innovation, have, in recent years, cultivated a lot of strong domestic brands that are eager to go global. We hope that this trend will result in … more mutually beneficial cooperation,” she added.

Bill Lang, chairman of Small Business Australia, said the two themes — building a modernized industrial system and high-quality development — present exciting opportunities for small and medium-sized firms in both China and Australia.

“Today, dozens of Australian technology startups are actively seeking partnerships with Chinese investors and manufacturers. Together, they can accelerate commercialization, enhance supply chains and drive new waves of technological self-reliance and shared prosperity,” Lang said, adding that the communique’s focus on expanding high-standard opening-up also aligns with Australia’s global leadership in sports, health and medical technology.

The communique also urged steering the development of new quality productive forces, and “green transition in all areas of economic and social development in an effort to build a Beautiful China”.

Asif Shuja, Middle East expert and founding director of Geopo Edu, a United Arab Emirates-based educational consultancy, told China Daily that the recommendations for the 15th Five-Year Plan “build on the successes of the previous five-year plan and mark a firm shift from growth-oriented expansion to resilience-centered modernization”.

“From the Middle East’s perspective, this plan opens fresh opportunities for bilateral cooperation. To Gulf countries such as the UAE, which have similar ambitions in energy transition and technological innovation, China’s expressed interests in these domains have much appeal,” said Shuja.

Suan Teck Kin, head of research and executive director at Singapore’s United Overseas Bank, said trade tensions with the United States have fueled China’s push to deepen its trade and investment links with other economies.

These ties, Suan said, aim to build greater economic resilience through diversification and promoting regional cooperation to mitigate the impact of tariffs and geopolitical uncertainty.

“A prosperous, progressive, and open China will bring benefits to its trading partners. China has been leading in many areas of science and technology, and (is) certainly ahead of many emerging economies in Asia,” said Suan.

Mark Logan, a former member of the United Kingdom Parliament, said that amid global uncertainties, one of the few certainties is that China’s government and people will devote themselves fully to fulfilling the key principles of the 15th Five-Year Plan (2026-30).

“These plenums have become essential indicators for the global economy, and the UK is watching closely to identify opportunities to work on our economic partnership over the coming years,” he said.

With China’s increased emphasis on domestic consumption and continued commitment to high-tech innovation, the UK is well-positioned to meaningfully contribute to the world’s second-largest economy, Logan said.

“Our strengths in services, advanced manufacturing, and green technology align naturally with China’s development priorities.”

Through the Belt and Road Initiative and other global frameworks, China offers valuable development pathways for countries in the Global South, as well as for developed nations, Logan said.

“Those who want to position China as an enemy are, in fact, positioning the UK as an enemy to further modernization, when there’s still much we can do bilaterally,” he said.

Shakeel Ahmad Ramay, chief executive officer of the Asian Institute of Eco-civilization Research and Development in Pakistan, said that by formulating a new five-year plan, China is continuing to deepen reforms and advance development, a move that will sustain its healthy economic growth and inject strong momentum into global economic recovery.

Under its 14th Five-Year Plan (2021-25), China delivered a series of development achievements that captured global attention, Ahmad said.

From economic transformation and tech breakthroughs to green development, China has taken a leading role on the world stage, while significantly improving the well-being of its people, he said.

“The 15th Five-Year Plan signals that China is entering a new stage of modernization, which prioritizes people’s welfare and shared prosperity. It outlines efforts to reshape the country’s economic and technological landscape, positioning China as a new hub of innovation and scientific progress,” Ahmad said.

The security mechanism will be upgraded to meet the needs of a modernized nation, while environmental protection and climate-resilient development have also been placed high on the agenda, he added.

John Ross, former director of the UK’s London Economics and Business Policy Bureau, said that China has entered a new stage of high-quality development, powered by technology and innovation. The country now stands at the global forefront in areas such as artificial intelligence, clean energy, and digital technology, he said.

“During the 15th Five-Year Plan, China needs to cultivate high-quality engineering talent and invest heavily in scientific research, while advancing innovation and cementing its position in the global leadership of new quality productive forces,” Ross said.

“For developing nations, China serves as a compelling model of advanced development. Just a decade ago, its economy was expanding rapidly, but it had yet to emerge as a technological leader. Today, China is at the forefront of innovation globally, occupying the very position that countries in the Global South aspire to reach.”

Ross highlighted the effectiveness of China’s economic planning, noting that it offers a comprehensive vision for the nation’s economic trajectory, in contrast with the short-term monetary and fiscal policies typical of Western approaches.

“China’s five-year plans have shaped its development for seven decades,” said Jelena Grubor Stefanovic, director of the representative office of the Serbian Chamber of Commerce and Industry in China.

“What makes them unique is that they combine strategic vision with measurable targets, creating a road map for investment, industrial policy and social priorities. This approach allowed China to coordinate resources over time, which is something few countries have sustained,” she said.

Stefanovic added that history has also shown how these plans, with ripple effects far beyond China’s borders, have reshaped the global economy.

Michael Dunford, an emeritus professor at the School of Global Studies at the University of Sussex in England, said that domestically, many of China’s achievements — such as the elimination of extreme poverty, the development of infrastructure, and the improvement in environmental quality — can be attributed to the nation’s ability to pursue long-term plans, supported by sustained financing and high rates of investment.

Contact the writers at jan@chinadailyapac.com