Xi Jinping is personally involved in China’s new five-year plan

习近平亲自参与中国的新五年规划

Economist

2025-10-09

9 分钟
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  • The Jingxi Hotel will contain all the intrigue as usual.

  • From October 20th to 23rd,

  • some 370 of the Communist Party's top officials will congregate in Beijing to map out the country's economic course to 2030.

  • The five-year plan they eventually release in March will be the 15th

  • since the party gained power in 1949.

  • Titanic in size as befits the world's second largest economy,

  • it will touch on everything from advanced manufacturing to green development and beyond.

  • Xi Jinping, China's president, is helping to shape it himself.

  • The big wigs meet in tricky circumstances.

  • China's GDP grew by 5.3% year on year over the first half of 2025,

  • helped by manufacturing investment and resilient exports.

  • But consumption is weak.

  • Many Chinese tend to save and they have become more cautious amid an uncertain job market and a savage property downturn.

  • Weak domestic demand is causing deflation.

  • Consumer prices fell by 0.4% in August from the same period a year before.

  • It is also adding to trade tensions.

  • China produces some 30% of the world's manufactured goods,

  • but accounts for just 18% of global consumption.

  • A protectionist backlash is building in other countries,

  • and an uneasy truce in the trade war depends upon the mood of Donald Trump, America's president.