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What to know about China’s economic ambitions and its Five-Year Plan
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In early March, Beijing released its fifteenth Five-Year Plan, detailing the Party leadership’s economic and technological ambitions for the years ahead.
Key facts
- The reporter has got their friend and colleague from the China Center Kyle Chan here, and Andrew Polk from Trivium China
- Jon Czin sits down with China Center colleague Kyle Chan and Andrew Polk of Trivium China to discuss Beijing’s push to move up the value chain, from low-end manufacturing toward high-tech industries
- Thornton China Center at Brookings, and part of the Brookings Podcast Network
- And the reporter doesn't have an answer for that, but the reporter has been pigeonholed that way for now about 15 years
Summary
China’s fifteenth Five-Year Plan reveals how important technology and innovation are to China’s economic growth plans as its economy transitions from low-end manufacturing to high-end technology-driven production. China still faces economic headwinds, such as deflation, demographics, weak consumption, and lingering effects of a collapsed real estate market. “Involution” describes China’s pattern of intense competition that compresses firm value and profit margins. China continues to export its industrial overcapacity abroad and remains comfortable with an export-oriented growth model.