China's top economic planner, the National Development and Reform Commission (NDRC), held a media seminar on Friday in Beijing to elaborate on key economic policies from this year's "two sessions," emphasizing innovation, technological advancement, and a commitment to boosting domestic consumption.
The seminar, attended by both domestic and international media practitioners, touched upon a wide range of topics from macroeconomic policies to specific opening-up measures.
The "two sessions" refer to the annual meetings of China's top legislature, the National People's Congress (NPC), and the country's top political advisory body, the National Committee of the Chinese People's Political Consultative Conference (CPPCC), which concluded on March 11 and 10, respectively.
Guo Chunli, vice president of the Academy of Macroeconomic Research at the NDRC, offered a detailed analysis of the new development model.
"The new development model emphasizes innovation, coordination, green growth, openness, and shared development. Innovation is the primary driving force, coordination ensures balanced progress, green development fosters harmony between people and nature, openness strengthens internal and external connectivity, and shared growth remains the ultimate goal," said Guo.
She also highlighted China's focus on developing scientific and technological capabilities to fuel industrial growth.
"Industrial innovation has continues to advance, with high-tech and equipment manufacturing experiencing value-added growth of 8.9 percent and 7.7 percent, respectively, outpacing overall industrial growth. Their shares in total industrial value-added reached 16.3 percent and 34.6 percent, respectively," said Guo.
The government work report, delivered by Chinese Premier Li Qiang and approved on March 11, outlines 10 key tasks with focus on consumption, technology, and opening up the economy. This report signals plans for additional stimulus measures aimed at achieving an annual growth target of at least 5 percent.
"Our policies are expected to significantly boost consumer spending, driving a strong recovery. This forecast is based on a comprehensive set of measures, including new business models and income growth incentives, which are already yielding results," said Guo.
China will continue implementing proactive macroeconomic policies, encompassing fiscal and monetary measures, alongside initiatives to improve livelihoods and stimulate domestic consumption.
Experts said at the seminar that the consistency and coordination of these policies, coupled with ongoing reforms and opening-up, will create a powerful synergistic effect, contributing to the country's robust and sustainable economic growth.
China's top economic planner interprets major economic policies following "two sessions"
Foreign diplomats and scholars are looking closely at this year's "two sessions", saying China's 15th Five-Year Plan (2026-2030) will not only chart the nation's economic and technological priorities but also reshape global value chains.
The fourth session of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC), the nation's top political advisory body, opened on Wednesday, followed by the annual session of the National People's Congress (NPC) on Thursday. Together known as the "two sessions," these meetings offer a comprehensive view into China's development priorities.
Global observers emphasized that the 15th Five-Year Plan, a blueprint guiding the nation's economic, social, and technological priorities over the next five years, marks a decisive shift toward high‑quality growth anchored in advanced technologies, with ripple effects across the world.
"The two sessions will discuss China's five-year plan, which is heavily oriented toward China's major technological development. I believe this is important because it represents the new blueprint for China's economy, which is now oriented toward the renowned high-quality development, and this will undoubtedly impact the entire world. I think it is worth studying. This is very important for Latin America. It will help us integrate more intelligently into global value chains and into all aspects of the major development that China is promoting in iconic industrial sectors, such as artificial intelligence, quantum computing, and space development, where Latin America also has much to contribute beyond just commercial growth," said Gustavo Sabino Vaca Narvaja, former Argentine Ambassador to China.
"The two sessions are a major political milestone in China, and this year's gathering carries even greater significance as this year marks the start of the 15th Five-Year Plan. This plan represents not only a blueprint for China, but also a guide for other countries. Instruments like the five-year plan effectively provide greater certainty and predictability for the rest of the world," said Chilean scholar of international relations Ignacio Araya Heredia.
"This is a particularly important date, especially due to the fact that the next Five-Year Plan shall be positioned and we're going to see what its main elements shall be. Serbia, which has a very high degree of steel friendship with the People's Republic of China, can expect further assistance in identifying the most prominent areas of Serbian economy and being helped by its great partner, such as it has been done in the previous period, from one part with establishing the main infrastructure projects, but also reshaping the industrial sector of Serbia, not just Serbia, but the region as a whole," said Veljko Mijuskovic, assistant professor of the Faculty of Economics of the University of Belgrade.
Beyond the policy framework, experts also pointed to China's achievements in green energy and technological innovation as models worth emulating.
Tomasz Bielinski, adjunct professor at the University of Gdansk's Faculty of Economics, said the robotics displays at the 2026 China Media Group (CMG) Spring Festival Gala reflected China's broader push in technological innovation.
"I was really impressed about the robotics. I'm very impressed with Chinese development in the technological field, we can still make great deals with Chinese businessmen and we can cooperate together to use this technology for both the good of China and the European Union. I'm aware of the innovation especially in autonomous drive on the on the Chinese side," he said.
"We hope for more of China's economic cooperation, especially in trade and also in investment. Also, and the other focus, if I talk about the focus of the development, don't forget about the green energy. We know that China is great in the electric vehicle field. So because China's electric vehicles in Indonesia nowadays, since couple of years ago, are very, very popular," said Al Busyra Basnur, president of the Indonesia-China Friendship Association.
Observers see China's new five-year plan driving high-quality development, global tech shifts
