China is in the process of drafting its 15th Five-Year Plan for National Economic and Social Development covering the period of 2026-30. The document will serve as one of the major roadmaps toward China's goal of modernization by 2035. As part of the drafting process, a one-month online public consultation began on May 20, with the collected opinions and suggestions to be summarized and provided as reference for decision-making by the central leadership.

China's five-year plans are formulated on the principles of sound, democratic and law-based decision-making. In May, President Xi Jinping provided core instructions on the work concerning the compilation of the new plan, emphasizing the need to continue adhering to these principles to create a strategic blueprint that integrates top-level design with advice sought from the public. Earlier, in late April, Xi convened a symposium in Shanghai to outline the overall requirements, determine the goals and tasks and propose approaches and measures for the plan.

The use of medium- and long-term plans to guide economic and social development is a distinct advantage of China's system of governance, providing the continuity and stability necessary for the successful achievement of visionary goals. In 1985, Xi, a member of the Standing Committee of the Communist Party of China Xiamen Municipal Committee and Executive Vice Mayor of Xiamen, Fujian Province, led the formulation of the city's development strategy for the period until 2000, giving an early demonstration of his ability to combine visionary foresight with practical governance. Many of the ideas and measures in the plan were innovative and forward-looking, such as the clear statement that while developing the economy, it is essential to maintain ecological balance.

Global transformations unseen in a century are unfolding at an ever-increasing pace, and the world finds itself in a new period of turbulence and change, with frequent occurrence of risk events that greatly increase uncertainties.

China's 15th Five-Year Plan will focus on the future and commit to achieving new breakthroughs in science and technology innovation, industrial upgrading, green development and people's wellbeing, according to available information.

The plan, adapting China's development efforts to changing situations, is vital not only for ensuring the continued success of China's modernization drive, but also for the stable development of the global economy.