China makes strengthening the real economy top priority for 15th Five-Year Plan

Beijing, Oct 30 (People’s Daily /APP): The fourth plenary session of the 20th Central Committee of the Communist Party of China (CPC) outlined 12 strategic tasks for the 15th Five-Year Plan (2026-2030) for national economic and social development. Building a modernized industrial system and reinforcing the foundations of the real economy tops the agenda.
In China’s overall development landscape, the real economy holds top priority. It is the ballast stone of China’s economy. Industries such as manufacturing, construction, agriculture, and services provide vast employment opportunities. Statistics show that these sectors employ over 400 million people, accounting for 53 percent of the country’s workforce.
Manufacturing, as a cornerstone of the national economy, is vital to China’s strategic security. Since the start of the 14th Five-Year Plan (2021-2025), China’s manufacturing sector has become even more comprehensive and resilient. The industry has maintained the top position in the world in terms of overall scale for 15 consecutive years, providing strong confidence in the face of external uncertainties.
As the global landscape grows increasingly complicated, the significance of the real economy has become all the more pronounced. China vowed to build a modern industrial system for the next five years, according to a Reuters article. “China’s forceful industrial policies have built sophisticated domestic supply chains and brought it to global dominance in many sectors. They have given the country confidence in its trade war with the U.S.,” said the article.
At a press conference held last week, Zheng Shanjie, head of the National Development and Reform Commission, said efforts will be made in four areas to reinforce the foundations underpinning the real economy. The first is to upgrade traditional industries. Traditional industries account for over 80 percent of the manufacturing sector. During the 15th Five-Year Plan period, China aims to upgrade and enhance key traditional industries, unlocking an estimated 10 trillion yuan (about $1.4 trillion) in new market opportunities.
The second is fostering emerging and future industries. Zheng said the country will work to develop new strategic pillar industries and accelerate the formation of industrial clusters in areas such as new energy and new materials, while making forward-looking plans for frontier sectors of the future.
The third is promoting high-quality development of the service sector. Greater integration will be encouraged between modern services, advanced manufacturing, and modern agriculture. This will not only meet people’s growing aspirations for a better life but also open up new drivers of economic growth. The fourth is building a modern infrastructure system. Zheng said China will improve the coordination of infrastructure planning and advance the construction of new types of infrastructure with appropriate foresight.