Home » Business » Title: China’s “15th Five-Year Plan” and Global Industrial Shift

Title: China’s “15th Five-Year Plan” and Global Industrial Shift

by Priya Shah – Business Editor

Summary of the⁢ Article: ⁤China’s 15th Five-Year Plan & Future progress

This article details the significance of China’s upcoming‌ 15th Five-Year Plan, ‌framing it as a ‌crucial​ period ⁢for the ​nation’s continued development and its ambition to become a global leader. Here’s a breakdown of ⁤the key⁤ takeaways:

* Focus⁣ on Advanced Manufacturing⁣ &⁤ Industry: The plan prioritizes advanced‍ manufacturing as​ a core driver ⁤of⁣ growth,focusing on ​future⁣ industries like aerospace,biomanufacturing,and⁤ hydrogen⁢ energy.​ Together, it aims to strengthen conventional ​industries like mining, chemicals, and machinery to maintain competitiveness in the global market.
* Technological ‌Self-Reliance: A major theme is accelerating self-reliance in key technologies. The‌ plan seeks to replicate past successes in areas like solar panels and electric vehicles into strategic sectors ​like semiconductors, ​advanced equipment, biotechnology, and quantum computing. China⁤ is determined to compete for technological dominance and possesses the capacity to ⁣build complete supply chains.
* Broader Development ⁢Goals: ⁣The 15th Five-Year ‍Plan extends⁣ beyond economics, encompassing political, social, and military development. It’s seen ​as⁢ a critical step towards achieving ‌socialist modernization ‍by 2035.
*⁣ Global Impact: China’s continued industrial upgrading and technological breakthroughs, driven by⁢ these​ five-year‍ plans, will considerably impact the global industrial division of labor and technological⁣ competition. The plan is expected to propel China to leadership in green technologies.
* Continuity⁣ & Building ⁢on Success: ​ The plan ​builds upon the successes of the 14th ​Five-Year Plan and continues the established model of strong policy support for high-tech industries.
* Official Perspective: The Chinese ⁢Ambassador to Nigeria emphasizes the plan’s importance as ​a​ foundational period for achieving socialist modernization and connecting past achievements with ‌future goals.

Source & Disclaimer: ⁣ The article is ​sourced from ⁢Xinhua Newspaper Network and includes a standard copyright and disclaimer stating that the​ views expressed in reproduced manuscripts are those of the authors and not necessarily those of Xinhua. ⁤ Readers are advised to ⁢verify information independently.

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