Experts on CPC meeting's arrangements for 15th Five-Year Plan

The meeting of the Political Bureau of the Communist Party of China (CPC) Central Committee held in Beijing on Wednesday made further arrangements for the 15th Five-Year Plan period (2026-2030), said experts.

The meeting analyzed and studied the current economic situation and made arrangements for economic work in the second half of this year.

The meeting emphasized that to ensure strong economic performance in the second half of the year, it is necessary to adhere to the general principle of pursuing steady progress, sustain policy continuity and stability, enhance flexibility and predictability, strive to achieve the annual economic and social development goals, and successfully conclude the 14th Five-Year Plan. In particular, macroeconomic policies should continue to be implemented forcefully and adjusted in a timely manner.

Experts also noted that the 15th Five-Year Plan period is a crucial phase for consolidating the foundation and making all-round efforts to basically realize socialist modernization.

"In the first half of this year, our economy got off to a strong start and maintained steady growth, thanks to our proactive and forward-looking macroeconomic policies. To sustain this steady growth in the second half of the year, we must ensure policy continuity and stability. Yet there will be some changes in the second half of the year, leading to some difference from the first half, so it is necessary for us to enhance our policy flexibility so that our policies will be precisely effective," said Huang Hanquan, head of the Academy of Macroeconomic Research.

Regarding the focus of macroeconomic policies, the meeting emphasized efforts to stabilize employment, enterprises, markets, and expectations, noting that the people-centered orientation of these policies has been steadily reinforced.

"In our efforts to stabilize enterprises and employment, and protect low-income groups, we still have to further strengthen the effect of policies to further embody their focus on people's livelihoods and foster a favorable environment for overall development," said Wei Qijia, a researcher at the State Information Center.

Experts on CPC meeting's arrangements for 15th Five-Year Plan

The multilateral system is "under attack" amid global turmoil, President of the 80th UN General Assembly Annalena Baerbock warned in her remarks on Wednesday.

In her briefing on the priorities for the resumed 80th Session of the General Assembly, the UNGA president noted that the current multilateral system does not collapse all in a sudden, but "crumbles piece by piece" in divisions, compromises, and lack of political commitment.

The president called all the UN member states to defend the UN Charter and international law and promote cross-regional cooperation.

She also urged to push forward the work of the UNGA on certain critical issues with a strong majority, rather than an absolute consensus among all member states. Such act is not a failure of multilateralism, but "an affirmation of it," she said.

The foundational principles of the institution should not be eroded by appeasement, she said, calling the member states to show courage, leadership, and responsibility at the UN's "critical make-or-break moment."

"The UN needs you. Your support, your leadership, your principle, stand, your cross-regional cooperation, if we are to preserve and modernize this institution, if we are to make it, rather than break it," she said.

UNGA President warns global multilateral system "under attack"

UNGA President warns global multilateral system "under attack"