FX.co ★ China Sets Strategic Priorities for 5-Year Plan

The Chinese Communist Party, following a closed meeting in Beijing over four days known as the fourth plenum, announced vital focus areas for its forthcoming Five-Year Plan on Thursday. The leaders underscored the importance of significantly boosting consumption and strengthening national security. Additionally, they reiterated their dedication to developing a modern industrial system centered on advanced manufacturing and pushing forward with achieving substantial self-reliance in science and technology. These discussions occur against a backdrop of ongoing economic challenges, such as weak consumer demand, a worsening property crisis, and continued trade tensions with the United States. The officials vowed to pursue swift economic progress, advocating for increased investment and addressing structural obstacles. The complete plan is due to be revealed at the National People's Congress in March.