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China's next economic transition: What economists say about the 5-year plan

Economists zeroed in on China's focus on quality economic growth and its technology ambitions in the 14th five-year plan released Thursday.

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Visitors walk by Chinese national flags and red lanterns decorated to celebrate the National Day in Beijing, China. Photo: Bloomberg

Enda Curran | Bloomberg

3 min read Last Updated : Oct 30 2020 | 11:17 AM IST

A communique released after a four-day meeting of the Communist Party’s Central Committee gave a broad outline of the plan as well as sketching out a vision for the economy as far as 2035.

Here’s a look at what economists are saying about the plan:

Quality Growth

The communique implied an aggressive path of economic expansion without mentioning the pace of gross domestic product growth explicitly. The previous five-year plan in 2015 had outlined a goal for medium-to-high growth.

Thursday’s statement “said that China’s GDP per capita should match the level in moderately developed countries by 2035,” economists at Australia and New Zealand Banking

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