China’s top leaders will map out policies for the country’s economic and social development over the coming five years at a key meeting next week, with President Xi Jinping’s new “dual circulation” strategy likely to take center stage to help the economy overcome medium and long-term challenges. Proposals for the five-year plan (FYP) covering 2021-25 will be discussed at the fifth plenary session of the Communist Party’s 19th Central Committee from Oct. 26 to 29, the highest-level policy-setting event since the outbreak of Covid-19. A broad outline of the plan may be published soon after the gathering, but a more detailed menu of policies is not likely to be released for weeks or even months. This will be China’s 14th FYP since 1953. Government officials, advisers, academics and lawmakers spend months debating the contents before the plans are finalized and published, and they then need to be given final approval by the country’s top legislature, the National People’s Congress, at its annual meeting that usually takes place in March.
Courtesy – Caixin Daily