Amid a complex global landscape, China's steadfast commitment to high-quality development has not only delivered remarkable economic performance but also injected vital stability and certainty into the world economy, according to international experts and business leaders.
As the country heads into its 15th Five-Year Plan period (2026-2030), the world has looked to the recommendations for the plan adopted by the Central Committee of the Communist Party of China to understand how China will navigate challenges and continue to pursue prosperity in the coming years.
According to Lawrence Loh, director of the Center for Governance and Sustainability at the National University of Singapore Business School, China's steady development path over the past five years have laid a clear path forward for the county.
"Despite the global headwinds in terms of uncertainty, especially in the trade environment, I think China has actually performed very well. And I think this really reflects the growth strategy that China has been pursuing, stabilizing growth across sectors, transforming the economic structure to an emphasis on high-quality growth. So I think the performance this year is actually a very strong foundation for the next five year plan of China," said Loh.
Echoing this sentiment, Jack Perry, chairman of Britain's 48 Group Club, highlighted China's forward-looking leadership in renewable energy and technology.
"What they are now is the leaders in renewable energy. And what they're also doing is wind farms and solar farms. They're putting a huge amount of efforts into that. If you look at the (proposed) 15th Five-Year Plan, I think it says that China are looking at it in a five year time frame, but that's not the case. The Chinese people and the Chinese leadership look very far ahead. And China's finger is on the pulse of where we are now and where we are going. And you can see that with their focus in energy, quantum, AI, robotics and automation," he said.
Michael Borchmann, former head of the European and International Affairs Department of the federal German state of Hesse, said that China's success in meeting its goals over the past five years sends a positive signal to the world as the next five-year period approaches.
"We have observed significant growth in China during the 14th Five-Year Plan period, with established goals being successfully achieved. The primary driving force behind this progress stems from China's vigorous promotion of high-quality development, which is highly forward-thinking. This momentum of development will also continue into the 15th Five-Year Plan period," Borchmann said.
International observers have also highlighted China's unwavering commitment to expanding high-level openness to the world, creating new development opportunities for global partners.
"China plays a very important part. In the technology area, China is also leading in the electronics or car industries, high-speed trains, even going to the moon, for example. We are actually very much promoting trade between the two countries, friendship and culture, and we hope China can actually contribute to our region, not only business, but overall economic stability," said Ang Kian Guan, president of the Brunei-China One Belt One Road Association.
From a Latin American perspective, Julian Rosero, an economist from Colombia, pointed to China's balanced and inclusive approach as a key opportunity for other developing nations.
"(China's five-year plan mechanism) operates with high efficiency, balancing energy transition, environmental issues, and social concerns, while actively giving back to society, fostering economic activities, and emphasizing openness and inclusivity. Since the last century, China's economy has grown rapidly. Today, the country's economic strength, particularly the social development, which is crucial for steady economic development, has made it an important trade partner for developing countries. Many developing nations, especially those in Latin America, view the growth of the Chinese market as a significant opportunity and a promising prospect for their productive transformation," he said.
Int'l observers look to China as stabilizing force in coming five-year period
