Overview
- China’s Fourth Plenum concluded on Oct. 23 with a communique approving draft guidance for the 15th Five-Year Plan covering 2026 to 2030.
- The document prioritizes accelerating self-reliance in science and technology, reinforcing state-led pushes in areas such as semiconductors, artificial intelligence, advanced manufacturing and green industries.
- Leaders called to “vigorously boost consumption,” expand domestic demand and channel investment toward demand-supporting sectors, marking a clearer demand-led emphasis noted by analysts.
- National security was elevated as a core objective, with defence capability explicitly incorporated into China’s 2035 development goals for the first time.
- Specific targets and funding details were not disclosed; officials signaled policy continuity as the economy contends with weak household demand, a prolonged property slump and ongoing trade frictions.