Xi stresses sound planning for economic, social development in 2026-2030

Chinese President Xi Jinping on Wednesday called for adapting to changing situations, grasping strategic priorities, and making sound plans for the country's economic and social development in the 2026-2030 period.

The remarks came as China revs up efforts to fulfill the targets set in the 14th Five-Year Plan (2021-2025) in the final year of its implementation and to formulate the next five-year plan.

Presiding over a symposium on China's economic and social development in the 15th Five-Year Plan period (2026-2030) in Shanghai, Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, heard opinions and suggestions from attending officials.

A key guiding document for medium-to-long-term economic and social progress, China's five-year plan outlines the country's overall goals, major tasks and policy orientation across various sectors over a five-year period.

Xi emphasized that scientifically formulating and continuously implementing the Five-Year Plans is an important experience of the CPC in governing the country, and also an important political advantage of socialism with Chinese characteristics.

The planning must focus on the goal of basically realizing socialist modernization, with a view to building a great country and advancing national rejuvenation, Xi said, adding that targets and tasks should be set in a reasonable manner with approaches and measures to be proposed for each specific field.

The Chinese president urged efforts to make overall plans, grasp the key and decisive factors, and focus on consolidating and expanding advantages, breaking through bottlenecks and obstacles, and making up for the shortcomings and weak points.

To plan the economic and social development during the 15th Five-Year Plan period, it is necessary to have a forward-looking grasp of the impact brought by the development and changes in the international landscape, and guide the adjustment and optimization of the economic layout in accordance with the trend, Xi said.

Efforts should be made to unswervingly manage China's own affairs well, expand high-standard opening up, and stabilize employment, enterprise operation, marketing and expectations with various measures, so as to comprehensively promote high-quality development, he said.

Greater emphasis should be placed on ensuring both development and security, with a comprehensive assessment of domestic and external risks and challenges, Xi said, calling for efforts to improve the national security system.

Xi emphasized that during the 15th Five-Year Plan period, the development of new quality productive forces should be placed in a more prominent strategic position in accordance with local conditions.

With scientific and technological innovation as the lead and with the real economy as the foundation, equal importance should be attached to comprehensively promoting the transformation and upgrading of traditional industries, actively developing emerging industries and making forward-looking plans for future industries, Xi said, adding that the construction of a modern industrial system should be accelerated.

Efforts should be made to improve the national innovation system, stimulate the vitality of all types of innovation entities, aim at the forefront of the world's science and technology development, continue strengthening basic research and enhance the ability for original innovation, and strive to make early breakthroughs in the development of key core technologies and cutting-edge technologies, Xi said.

Xi also called for promoting integrated development of education, science and technology, as well as human resources development to consolidate the fundamental and strategic support for the development of new quality productive forces.

Stressing the importance of common prosperity for all, Xi urged efforts to ensure and improve the people's livelihood in the course of development, and steadily promote common prosperity.

It is essential to conduct in-depth research on promoting coordinated regional development, consolidating and expanding the achievements of poverty eradication, advancing comprehensive revitalization of rural areas and integrated development of urban and rural areas, and steadily increasing the income of both urban and rural residents, Xi said.

Xi also called for efforts to roll out a number of balanced and accessible policies and measures in order to resolve the pressing difficulties and problems that concern the people most.

Since its first launch in the 1950s, the five-year plan has been serving as a blueprint for China's overall development. The formulation process operates through a well-structured framework that combines the centralized, unified leadership of the CPC Central Committee with extensive democratic participation.

Xi stresses sound planning for economic, social development in 2026-2030

Xi stresses sound planning for economic, social development in 2026-2030

Europe is facing mounting economic pressure as tensions in the Middle East escalate, causing significant fluctuations in global energy markets, a European energy expert has said.

The region's heavy reliance on energy imports has left it vulnerable to soaring oil and gas prices, raising concerns over inflation and economic stability, said Simone Tagliapietra, a senior fellow at Bruegel, a Brussels-based think tank devoted to policy research on economic issues.

"This is putting very tough pressure on the European gas markets. Also, we see rising cost of the gasoline at the pump. So, higher energy costs, which will again have huge impact on the European citizens and which risk to ignite an inflation spiral where all prices rise as a consequence of the rising energy prices," said Tagliapietra, who specializes in EU climate, energy and industrial policy.

Despite Europe's substantial imports of liquefied natural gas (LNG) from the United States, the expert cautioned, U.S. supply remains unstable, which further complicates Europe's energy security outlook.

"Given the volatility in the decisions of the Trump administration and given the trade war that the Trump administration has started against all other countries including the European Union in the past year, we are also very much attentive at any possible attempt by the U.S. administration to limit the exports of this LNG. We do not see this as an imminent risk, but this is something that Europe certainly needs to watch out with great degree of care in the coming months and weeks," he said.

Tagliapietra agrees that Europe must accelerate its energy transition to reduce dependency on single import sources and fossil fuels.

"There is nothing that Europe can do to decouple itself from this vulnerability of fossil fuel dependency, then accelerating the deployment of solar and wind energy sources in Europe. And we need to continue to do a lot of efforts amid this new energy crisis," said Tagliapietra.

Rising tensions in Middle East trigger energy market volatility in Europe: expert