Han Wenxiu: Maintain the economy's development in a new, better, and higher-quality direction, injecting more stability and certainty into a turbulent and uncertain world.

On March 22, Han Wenxiu, Deputy Director (Ministerial Level) of the Office of the Central Financial and Economic Affairs Commission responsible for daily work, and Director of the Office of the Central Rural Work Leading Group, delivered a keynote speech during the China Development High-Level Forum 2026 Annual Conference. He focused on the characteristics and highlights of the 14th Five-Year Plan. Han Wenxiu pointed out that during the 15th Five-Year Plan, we must ensure that by 2035, we make decisive progress toward basically achieving socialist modernization. Development remains the top priority. China will promote qualitative improvements and reasonable quantitative growth of the economy, continuously enhance the country’s hard power in economy and technology, and strengthen the soft power in culture and branding.

Han Wenxiu emphasized that China’s 15th Five-Year Plan is a comprehensive implementation of the new development philosophy, aimed at promoting high-quality development. It is a plan to create and share new opportunities with countries around the world.

The 15th Five-Year Plan adheres to innovation-driven development, stimulating economic vitality. Innovation is the primary driver of development. The plan clearly states two strategic tasks: “building a modern industrial system” and “accelerating high-level technological self-reliance and self-improvement,” with key emphasis on deep integration of technological and industrial innovation. Historical experience since the founding of New China shows that China’s pursuit of technological independence and self-reliance is driven by internal motivation and external pressures. After years of effort, China’s independent innovation capacity has crossed a turning point, making external forces difficult to reverse. Moving forward, we will double our efforts, accelerate catching up in areas where gaps remain, and achieve parallel development and leadership in areas of advantage, striving for higher levels of technological independence and self-reliance.

Han Wenxiu stated that China will maintain a reasonable proportion of manufacturing, building a modern industrial system with advanced manufacturing as the backbone. We will deepen supply-side structural reforms, comprehensively address involutional competition, and promote industrial upgrading in a step-by-step, phased manner. This includes optimizing and upgrading traditional industries, cultivating and expanding emerging industries, and forward-looking planning for future industries to develop more pillar and leading industries.

China will fully promote digital development of the economy and society, creating new forms of intelligent economy. We will implement the “AI+” initiative, empowering various industries and serving millions of households with artificial intelligence. We will increase the proportion of basic research, advance education, science, technology, and talent development, generate more original results, accelerate the efficient transformation and application of major scientific achievements, and continuously foster new productive forces. We believe that China’s technological and industrial innovation will generate increasing global spillover effects, making the world richer and more vibrant because of China’s innovation.

The 15th Five-Year Plan emphasizes coordinated development and tapping into the potential of a large economy. China’s development remains unbalanced and insufficient, with significant disparities between urban and rural areas and among regions. Coordinated development holds enormous potential and growth space. We will adhere to regional policies tailored to local conditions, support major economic provinces to take the lead, and enable other regions to leverage their comparative advantages, promoting the principle of “mountains where suitable, water where suitable, grain where suitable, agriculture where suitable, industry where suitable, commerce where suitable.” We will promote integrated urban-rural development, learn from the “Ten Thousand Project” experience, advance rural revitalization, and develop agriculture into a modern large-scale industry. We will accelerate addressing shortcomings in rural living conditions, build livable and business-friendly villages, and create high-quality rural living spaces.

“Over the coming period, a key and challenging task for promoting balanced and coordinated economic development is to steadily increase the contribution of consumption to economic growth and foster a development model driven more by domestic demand and consumption,” Han Wenxiu said.

He also noted that China’s super-large market advantages have not yet been fully realized. There is huge potential in expanding consumption, especially service consumption. There is significant investment space in urban renewal, upgrading traditional infrastructure, and building new infrastructure. China will formulate and implement a plan to increase income for urban and rural residents, promote a noticeable rise in the consumption rate. We will combine investment in physical assets and human resources, strengthen human capital development and comprehensive investment in people, fully unleash the growth potential of the large economy.

The 15th Five-Year Plan advocates green development and ecological civilization. China’s green technologies, green energy, and green finance are already at the forefront globally. During the 15th Five-Year period, we aim to reach new heights. Achieving “carbon peaking” before 2030 is a key milestone for building a beautiful China. China will implement dual controls on total carbon emissions and intensity, accelerate economic and social development, and promote a comprehensive green transformation.

Han Wenxiu stated that currently, nearly 40% of China’s total electricity consumption comes from renewable energy—meaning 4 out of every 10 kilowatt-hours are green electricity. The international situation has provided a lesson: fossil fuels like oil and gas often require imports and international transportation, whereas wind and solar energy are local resources that do not require imports or transportation. We will accelerate building a new energy system, continuously increase the supply of renewable energy, strengthen the safe and reliable replacement of fossil fuels, and push for peak coal and oil consumption.

China will also vigorously develop green and low-carbon technologies and industries, promote energy-saving and carbon-reduction upgrades in key sectors, and build zero-carbon factories and parks. We believe that protecting the ecological environment and addressing climate change are long-term and shared challenges for humanity. Regardless of whether some international actors “withdraw” or waver, China will actively participate in global environmental and climate governance. During the 15th Five-Year period, we aim for non-fossil energy to account for 25% of total energy consumption and for a 17% reduction in CO2 emissions per unit of GDP, making positive contributions to global climate change efforts.

The 15th Five-Year Plan emphasizes opening up and cooperation for mutual benefit. No matter how international circumstances change, China will adhere to opening-up as a fundamental national policy, deepen reforms, and promote high-level opening. China has already fully removed restrictions on foreign investment in manufacturing and will focus on expanding market access and opening in the service sector, including telecommunications, internet, education, culture, and healthcare, ensuring orderly expansion of openness and facilitating cross-border data flow securely and efficiently.

“We do not pursue trade surpluses deliberately; on the contrary, we actively promote balanced trade,” Han Wenxiu said. In fact, China has accumulated a large service trade deficit over the years. As a responsible major country, China actively opens markets, increases imports of high-quality products, and grants zero tariffs on 100% of tariff lines for all least developed countries that establish diplomatic relations with China. We will continue to host the China International Import Expo in Shanghai, sharing the opportunities of our massive market with the world.

In recent years, China’s outward investment has significantly exceeded foreign direct investment inflows. China will continue to expand outward investment, jointly build the Belt and Road with high quality, and steadily promote the internationalization of the Renminbi. We will continue to create a market-oriented, law-based, and international first-class business environment. We welcome more foreign enterprises to invest in China and share opportunities in advanced manufacturing, modern services, high-tech, energy conservation, and environmental protection.

The 15th Five-Year Plan upholds shared development and the pursuit of common prosperity. The five-year plan is both a national and a family affair. Chinese modernization prioritizes people’s well-being. Among the 20 key indicators in the plan, the most numerous are related to livelihood and welfare, including employment, income, education, healthcare, elderly care, childcare, and life expectancy—covering seven areas. In response to recent structural changes such as population decline, aging, and low birthrates, this plan for the first time dedicates a separate chapter to high-quality population development.

China will adhere to doing its best within its capacity, balancing high-quality development with improving people’s livelihoods, and expanding high-quality development space by meeting people’s needs. In the era of artificial intelligence, facing pervasive shocks and infiltration, we must adapt to the trend, respond comprehensively, uphold technology for good, promote full employment, optimize income distribution, improve social security, and foster social fairness and justice. We will continuously enhance the people’s sense of gain, happiness, and security.

The 15th Five-Year Plan coordinates development and security, ensuring that China’s modernization remains steady and far-reaching. Currently, the world is undergoing rapid changes, with intertwined conflicts and uncertainties. China’s development faces both opportunities and risks. We will further strengthen the domestic big cycle, smooth the domestic and international double cycles, and enhance economic and social resilience. We will take effective measures to safeguard food security, energy and resource security, supply chain security, and infrastructure safety. We will also strengthen strategic mineral resource exploration and reserves, and ensure the security of major strategic channels. We will coordinate risk prevention and development, stabilize the real estate market, implement city-specific policies, control new supply, reduce inventories, optimize supply, and accelerate the development of new real estate models. We will actively and orderly resolve local government debt risks, maintaining the bottom line of avoiding systemic risks.

Over more than 40 years of reform and opening up, China’s stable and secure development environment has proven to be the best haven for international capital. “Nevertheless, we are also aware that during the 15th Five-Year Plan, to achieve decisive progress toward socialist modernization by 2035, development remains the top priority,” Han Wenxiu emphasized.

He concluded that China will promote qualitative improvements and reasonable quantitative growth of the economy, continuously strengthen the country’s hard power in economy and technology, and enhance cultural and brand soft power. This year, China’s economy has started strongly and remains on a good trajectory. We will build on this momentum, seek steady progress, and maintain a trend of new, improved, and positive development, injecting more stability, certainty, and positive energy into an unstable world.