New 5-year plan's focus on economy sends message of meeting people's aspiration, defying external pressure: expert

China's decision to prioritize economic development over the next five years is highly significant for fulfilling the people's desire for a better life and responding to external pressure squarely, said Zhu Min, a senior fellow at the China Center for International Economic Exchanges, in Beijing on Friday.

According to a communique of the fourth plenary session of the 20th Central Committee of the Communist Party of China (CPC), released on Thursday, China will continue to pursue economic development as its central task during the 15th Five-Year Plan period (2026-2030).

During the plenum, which was held in Beijing from Monday to Thursday, the Recommendations of the CPC Central Committee for Formulating the 15th Five-Year Plan for Economic and Social Development were adopted.

Zhu analyzed the importance of economic development for China from both domestic and international perspectives.

"Prioritizing economic development has been the CPC's fundamental national policy since China's reform and opening up started. Under the current circumstances, it is of particular significance both domestically and externally. Domestically speaking, China's per capita GDP has soared from 178 U.S. dollars at the beginning of the reform and opening up to 14,000 U.S. dollars today. That's an extraordinary increase of over 70 times. However, this figure has just reached the global average. If China aims to achieve a medium-level developed country status by 2035, we still face lots of challenges. Since a better and more well-off life is the common aspiration of our people, economic growth is very important," said Zhu.

"From an international perspective, it is evident that the Trump administration's efforts to contain and suppress China hinge on holding back China's economic development. The United States' biggest concern is that China's economy will ultimately overtake its own, which has become a focal point of American right-wingers. Consequently, all their suppression against China, the launching of trade wars, and so on are fundamentally aimed at holding China's economy down. In this context, I think the CPC Central Committee's renewed emphasis on prioritizing economic development carries great importance, as it provides a clear direction and instills confidence among the public," said Zhu.

New 5-year plan's focus on economy sends message of meeting people's aspiration, defying external pressure: expert

New 5-year plan's focus on economy sends message of meeting people's aspiration, defying external pressure: expert

China's Minister of Commerce Wang Wentao outlined the key priorities of the 32nd Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade Meeting, which opened on Friday in Suzhou, East China's Jiangsu province.

In an interview with CGTN ahead of the two-day meeting, Wang said free trade, digital cooperation and green economy are high on the agenda of the meeting.

"The key areas include advancing regional economic integration and the Free Trade Area of the Asia-Pacific, supporting the World Trade Organization (WTO) in strengthening digital cooperation and developing green economy. At present, the international situation is marked by intertwined turbulence and chaos, with intensified geopolitical instability. The rise of unilateralism and protectionism poses serious challenges to the international economic and trade order, disrupting global and Asia-Pacific development. Against this backdrop, all parties have higher expectations for this trade ministers' meeting, hoping that it can build consensus and deliver outcomes," Wang said.

This year marks China's third time hosting the APEC meetings and the 35th anniversary of its membership.

By 2025, China had become the largest trading partner of 13 APEC economies. Trade between China and APEC economies reached 3.7 trillion U.S. dollars, accounting for 57.8 percent of China's total foreign trade.

China has signed 24 free trade agreements or economic and trade arrangements with 31 countries and regions, including 15 APEC economies. In recent years, China has also completed upgrades of free trade agreements with APEC economies such as Singapore and Peru.

The minister said that China has always been a firm supporter and an important contributor to APEC.

"We have actively shared our vast market and development opportunities with all parties. China's door to the world will only open wider and wider. Facing the common challenges, China will continue to fulfill its responsibilities as a major country, further deepen reform, expand high-standard opening-up, and continue to provide new opportunities for the Asia-Pacific region and the world with its new achievements in Chinese modernization," the minister said.

China's Commerce Minister outlines priorities for 32nd APEC trade ministers' meeting