*As China prepares to embark on its 15th Five-Year Plan (2026-2030), officials and experts are emphasizing a shift toward higher-quality growth while maintaining stability, underscoring the nation's resilience and adaptability as it navigates complex global headwinds.
*Despite global uncertainties, China's economy is projected to reach 140 trillion yuan (about 20 trillion U.S. dollars) in 2025, with an average annual growth of over 5 percent during the 14th Five-Year Plan period (2021-2025), outpacing global averages.
*The Central Economic Work Conference identified major pro-growth measures, including boosting domestic demand, strengthening innovation, and tackling involution competition to foster fair markets.
BEIJING, Dec. 30 (Xinhua) -- As China prepares to embark on its 15th Five-Year Plan (2026-2030), officials and experts are emphasizing a shift toward higher-quality growth while maintaining stability, underscoring the nation's resilience and adaptability as it navigates complex global headwinds.
In the latest episode of China Economic Roundtable, an all-media talk show hosted by Xinhua News Agency, guests discussed the Central Economic Work Conference held earlier this month. The discussions highlighted China's strategic focus on innovation-driven development, domestic demand expansion, and risk prevention to secure a strong start for the 15th Five-Year Plan.
Despite global uncertainties, China's economy is projected to reach 140 trillion yuan (about 20 trillion U.S. dollars) in 2025, with an average annual growth of over 5 percent during the 14th Five-Year Plan period (2021-2025), outpacing global averages.
Liu Rihong, an official from the Research Office of the State Council, attributed this resilience to China's policy support, reform-innovation synergy, and efforts to balance market vitality with regulatory oversight.
The Central Economic Work Conference identified major pro-growth measures, including boosting domestic demand, strengthening innovation, and tackling involution competition to foster fair markets.
"An important characteristic of the economy of a major country is internal circulation. We must place the strategic focus of development on expanding domestic demand," said Liu.
"Innovation is the main theme of our era. To accelerate the development of new quality productive forces and foster new growth drivers, it is essential to vigorously promote the deep integration of technological innovation and industrial innovation," said Yang Zhiyong, president of the Chinese Academy of Fiscal Sciences.
Enterprises are the main drivers of innovation, the Roundtable guests agreed.
Xia Hua, chairwoman of Eve Group, a garment brand in China, stressed that the country's policy clarity enabled businesses to have peace of mind to invest long-term in innovation.
"As China has implemented a series of measures to promote the development and growth of the private economy, advance the digital transformation of the manufacturing industry, and expand domestic demand, private enterprises are encouraged to make long-term investments with confidence and firmly invest in the real economy," said Xia.
In terms of employment, Liu said that the current fields of artificial intelligence and new energy vehicles have created numerous new job opportunities, and the development of the service sector has also provided broad employment opportunities.
At the same time, the large-scale implementation of skills training, the continuous enhancement of labor rights protection for people in flexible employment, and new forms of employment will better promote high-quality and ample employment, Liu added.
Experts acknowledged pressures such as weaker external demand and domestic structural imbalances, but expressed optimism, noting that China has a vast domestic market and a complete industrial chain.
Liu Zhicheng, a researcher at the Chinese Academy of Macroeconomic Research, affirmed that "major provincial economies will play a pivotal role" in leading regional growth.
With the 15th Five-Year Plan poised to launch, the Roundtable guests called for stronger Party leadership over economic work and more effective policy implementation to translate blueprints into tangible outcomes.
Looking ahead to next year, they agreed that China will surely continue to consolidate and expand the stable, positive growth momentum of its economy and achieve a good start to the 15th Five-Year Plan. ■
