China needs to deepen economic structural reform to promote high-quality development during the 15th Five-Year Plan period (2026-2030), said Guo Lanfeng, president of the China Society of Economic Reform and also a member of the 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC) on Wednesday in Beijing.
Guo made the remarks when attending a group interview ahead of the opening meeting of the fourth session of the 14th CPPCC National Committee.
He stressed that the economic structural reform should center on high-quality development during the coming five years.
"Reforms should be targeted at the most pressing and critical problems. Institutional bottlenecks and systemic flaws that hinder high-quality development should be identified as key objectives of reform and should be addressed promptly, so as to establish an institutional environment that helps facilitate high-quality development," Guo said.
He also emphasized the importance of striking a proper balance between the government and the market.
"We need to transform government functions to further advance the building of a unified national market. We need to clarify the boundaries of government powers and responsibilities to foster a more favorable market environment, while enabling the government to play its role in remedying market failures," Guo said.
In addition, Guo called for a more systematic, holistic, and coordinated approach to economic structural reform.
"Economic structural reform cannot be carried out in isolation; it should be interconnected and coordinated with other reforms, reinforcing each other in the process. It is necessary to strengthen the integration of top-level design with local reforms and continuously institutionalize reform outcomes through laws and regulations," he said.
China needs to deepen economic structural reform to promote high-quality development: CPPCC member
China's 15th Five-Year Plan proposal sends a strong signal of the country's commitment to upholding openness and cooperation, which will promote further development for the country and the world, said officials and scholars around the world.
The draft 15th Five-Year Plan, the blueprint that will guide the world's second-largest economy from 2026 to 2030, is central to steer China to move toward modernization amid technological disruption, demographic shifts and an increasingly fractured global order, according to the scholars.
"China's 15th Five-Year Plan is not a rigid model; it is more like benchmarks for growth targets and focal points. Chinese economists and economic decision-makers are not just focusing on qualitative growth, but also on innovative development. We're witnessing new transportation methods, robotics and artificial intelligence," said Andrey Denisov, first deputy chair of Russia's Federation Council Committee on Foreign Affairs and former Russian Ambassador to China.
"The 15th Five-Year Plan is of great importance to China's development. The country is poised to make remarkable advancements in various sectors, including artificial intelligence, high-end manufacturing and infrastructure construction. Given the shifting global context and China's transition towards high-quality development, I am confident that this plan will herald a new era for China's development," said Kamel Mansari, news director of the French-language daily Le Jeune Independent.
Scholars also noted that China's commitment to high-quality development and high-level opening-up will promote win-win results and benefit the world.
"China has emerged as a key partner for most countries worldwide, and a preferred partner due to its closeness and integration with global communities, as well as its strong humanitarian perspective. The Chinese economy has not only benefited itself; it has helped many economies worldwide flourish through its partnerships," said Dirgham Muhammad Ali, an Iraqi economic expert.
China's National People's Congress (NPC) is scheduled to open in Beijing on Wednesday, with lawmakers set to approve the 15th Five-Year Plan.
15th Five-Year Plan to guide China's development, benefit world: scholars
