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Chinese officials pledge to make solid efforts to implement 15th Five-Year Plan

China

China

China

Chinese officials pledge to make solid efforts to implement 15th Five-Year Plan

2026-01-24 12:20 Last Updated At:12:47

Chinese officials attending a recent study session at the National Academy of Governance in Beijing have pledged to make solid efforts for the country's development over the next five years.

Speaking at the opening meeting for the session, Chinese President Xi Jinping called the session attendees, principal officials at the provincial and ministerial levels, to secure a good start for the country's 15th Five-Year (2026-2030) Plan.

Xi said it is necessary to develop a comprehensive, profound and accurate understanding of the strategic arrangements for economic and social development during the 15th Five-Year Plan period, which were made at the fourth plenary session of the 20th Central Committee of the Communist Party of China (CPC).

He stressed that China is currently at a stage where strategic opportunities and risks coexist, with increasing uncertainty and unpredictable factors. He added that building a modern industrial system and achieving an overall industrial structure upgrade are key strategic tasks for the 15th Five-Year Plan period.

"The year 2026 marks the beginning of the 15th Five-Year Plan period. For the first time in a Five-Year Plan, the CPC Central Committee has proposed making China strong in the energy sector, clearly defining the strategic direction and priorities for the country's energy development. Building a country strong in the energy sector means to make the country independent in energy supply so as to provide reliable energy assurance for the country's modernization," said Dai Houliang, chairman of China National Petroleum Corporation.

Yin Hejun, minister of science and technology, said the next five years is a critical phase for building a solid foundation and exerting comprehensive efforts to basically achieve socialist modernization.

"We must focus on the goal of building a strong country in science and technology, take a holistic approach to formulating the 15th Five-Year Plan for science and technology innovation, strengthen strategic, forward-looking, and systematic planning for basic research, promote the deep integration of sci-tech innovation and industrial innovation, and provide solid support for comprehensively advancing Chinese modernization through high-level sci-tech self-reliance and self-improvement," Yin said.

Chen Zhongyue, chairman of China Mobile Communications Group, said it is essential to study and comprehend the spirit of the fourth plenary session of the 20th CPC Central Committee.

"Currently, digital-intelligence technologies are deeply integrated into all sectors of the economy and society, presenting broad opportunities for the information and communications industry. We will deepen scientific and technological innovation, develop new quality productive forces, and contribute more to Chinese modernization with new achievements in building a strong cyber power and a Digital China," he said.

Speaking at the study session, Xi said that improving livelihoods should be prioritized to promote social development. And while advancing economic growth, steady efforts should be made to raise quality of life for the people.

"We will strive to make healthcare security services more accessible to the public, support the development of the medical and health sector, and foster the growth of the pharmaceutical industry. Healthcare security is not only a traditional undertaking in the health domain but also a concrete manifestation of new quality productive forces in health. We are continuously exploring ways to drive emerging industries with new technologies so as to benefit all people," said Zhang Ke, head of the National Healthcare Security Administration.

Chinese officials pledge to make solid efforts to implement 15th Five-Year Plan

Chinese officials pledge to make solid efforts to implement 15th Five-Year Plan

U.S. equities delivered a mixed performance on Friday, as a significant sell-off in a major chipmaker tempered broader gains driven by a resilient technology sector and stabilizing geopolitical sentiment.

The Dow Jones Industrial Average fell 0.58 percent to 49,098.71. The S and P 500 added 0.03 percent to 6,915.61, while the Nasdaq Composite Index rose 0.28 percent to 23,501.24.

Sector performance was largely positive, with seven of the 11 primary S and P 500 sectors finishing in the green. Materials and consumer discretionary led the gainers, advancing 0.86 percent and 0.73 percent, respectively. However, the financial and industrial sectors faced headwinds, declining 1.38 percent and 0.80 percent.

The technology sector saw a sharp divergence in performance. Industry leaders such as Advanced Micro Devices and Nvidia supported the Nasdaq's rise, gaining more than 2 percent and 1 percent, respectively, alongside a boost for Microsoft.

In contrast, Intel shares plummeted 17.03 percent, marking their worst session since August 2024, after the company issued a weak first-quarter outlook. Intel CEO Lip-Bu Tan informed analysts that the firm is struggling to meet product demand and that production efficiency remains below targets, describing the turnaround as a "multiyear journey."

Meanwhile, Goldman Sachs warned that the massive Arctic storm approaching the United States could severely disrupt natural gas supplies. This potential supply shock comes at a time when domestic heating demand is projected to surge.

In the bond market, the yield on the 10-year U.S. Treasury note continued its slight downward trend, slipping below 4.24 percent. Market participants are now bracing for a pivotal week ahead, featuring a high concentration of corporate earnings reports alongside the Federal Reserve's interest rate decision.

Political attention is also focused on the central bank's leadership, as U.S. President Donald Trump announced Thursday that he has concluded interviews for the next Federal Reserve chair and intends to name a successor to Jerome Powell "soon."

U.S. stocks finish mixed as Intel plunge offsets tech gains

U.S. stocks finish mixed as Intel plunge offsets tech gains

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