China Highlights Technology and Domestic Demand in 15th Five-Year Plan

Chinese Government is emphasizing technology, innovation, and domestic demand as key drivers of growth in the first year of its 15th Five-Year Plan, according to a press release by CGTN. The report highlights steady economic performance supported by reforms that focus on self-reliance in science and technology and the strengthening of industrial capacity.

During the January to March period, high-tech manufacturing profits rose 47.4 percent, contributing 7.9 percentage points to overall industrial profit growth. Industries related to AI and semiconductors recorded sharp increases, including optical fiber manufacturing, which grew by 336.8 percent. Optoelectronic and display device sectors also saw notable gains.

The plan also advances China's policy of opening up through 23 pilot free trade zones that account for about one-fifth of the country's foreign investment and trade. The negative list for foreign investment has been reduced to 29 items, with all restrictions on manufacturing lifted. The government is focusing on institutional openness and improved market access.

At a briefing on April 17, the National Development and Reform Commission announced a special action plan to expand domestic demand from 2026 to 2030. The initiative aims to strengthen consumption and domestic circulation as foundations for more balanced and sustainable economic growth.