Explainer: How China's leadership sees domestic, global landscapes for country's development over next 5 years

BEIJING -- The Communist Party of China leadership has drawn a development roadmap for the world's second-largest economy in the next five years.

In the recommendations for formulating China's 15th Five-Year Plan (2026-2030) for national economic and social development, the Party leadership has also stated its views on the evolving international and domestic environments.

China is in a period of development where strategic opportunities exist alongside risks and challenges, with uncertainties and unforeseen factors on the rise, says the document of the recommendations adopted in late October.

The document notes that relations among major countries have an important bearing on the international landscape, the dynamics of which will in turn exert a profound impact on a country's domestic development.

Books lately published to help the public better understand the recommendations provide further details, summarized as follows.

GLOBAL CHANGE BRINGS OPPORTUNITIES, RISKS

The global balance of power is shifting, and multipolarity is advancing amid twists and turns.

Although economic globalization has encountered headwinds, it remains an unstoppable trend. This process will create new space and opportunities for China to expand its high-level opening up, and to facilitate flows between domestic and international markets.

A new sci-tech revolution and industrial transformation wave is gaining momentum, with innovation and industrialization accelerating worldwide. In some areas, China has already established an early advantage, creating favorable conditions to seize new development opportunities.

At the same time, China faces mounting external risks and challenges. The world is witnessing ever-greater instability, with geopolitical conflicts occurring with increasing frequency. Unilateralism and protectionism are on the rise, and hegemonism and power politics pose expanding threats. The global economic and trade order faces serious disruptions, and global growth momentum remains weak.

CHINA'S DEVELOPMENT ADVANTAGES

China's development retains significant advantages. First, the institutional strength of socialism with Chinese characteristics -- underpinned by the Party's overall leadership, the ability to mobilize resources for major undertakings, and the combination of an efficient market and a well-functioning government -- provides a strong guarantee for high-quality development.

Second, China's super-sized domestic market offers vast consumption potential, investment opportunities, and strong internal dynamism. And continuous improvements to the country's laws and business environment enhance its attractiveness to global resources and production factors.

Third, China's complete industrial system provides a solid foundation for the enhancement of its economic competitiveness, innovation and resilience.

Fourth, China has abundant human resources. The growing ranks of skilled workers, entrepreneurs and scientific researchers are turning the demographic dividend into a talent dividend, injecting continuous innovation and creativity into economic and social development.

Overall, China's economy remains stable, with multiple strengths, robust resilience and enormous potential. The conditions underpinning its long-term growth have not changed.

ADDRESSING CHALLENGES TO ENSURE BALANCED, SUFFICIENT GROWTH

China's development continues to face prominent issues of imbalance and insufficiency. Effective demand remains inadequate, and obstacles persist in domestic economic circulation. The transition from old to new growth drivers is a difficult task, while modernization lags behind in agriculture and rural areas.

Pressures on employment and income growth remain, and weaknesses in social security and public services persist. Changing demographic patterns are also presenting new challenges for economic and social governance, and potential risks remain in key areas.

During the 15th Five-Year Plan period, identifying stage-specific requirements for China's economic and social development will be crucial, as will seeking new ideas and methods to address these challenges.

Profound change brings both challenges and opportunities. Meeting these challenges requires determination and confidence. China must maintain strategic resolve, remain committed to managing its own affairs well, and sustain rapid economic growth and enduring social stability, thus beginning a new chapter of Chinese modernization.