Group 1 - The core objective of the "15th Five-Year Plan" is to achieve significant results in high-quality development, which aligns with the primary task of Chinese-style modernization [3][5] - The plan emphasizes the importance of maintaining a reasonable proportion of the manufacturing industry and constructing a modern industrial system centered on advanced manufacturing [8] - The focus of the "15th Five-Year Plan" is on economic construction, with key areas including technology, new industrial chains, domestic markets, consumption, and people's livelihoods [10] Group 2 - The "15th Five-Year Plan" outlines strategic and innovative measures to build a strong domestic market, accelerate agricultural modernization, enhance social welfare, and promote a comprehensive green transition [12] - The plan highlights the need to combine investments in physical assets and human capital, emphasizing that expanding domestic demand and investing in people are two sides of the same coin [15][17] - The future five years will see a push for high-level opening-up, encouraging high-quality enterprises to enter China while supporting Chinese companies in forming their own industrial chains [20][22] Group 3 - The plan aims to accelerate self-reliance in high-level technology and lead the development of new quality productivity, seizing opportunities from the new round of technological revolution and industrial transformation [30] - It stresses the importance of original innovation and tackling key core technologies, promoting deep integration of technological and industrial innovation [32] - The plan calls for breaking down barriers to market flow and optimizing resource allocation to create a virtuous cycle of demand and supply [39] Group 4 - The plan identifies key areas for technological breakthroughs, particularly in artificial intelligence, quantum computing, and advanced nuclear energy technologies, which are expected to see explosive growth in the next five years [45][49]

Core Points - The 20th Central Committee's Fourth Plenary Session emphasizes the importance of unifying thoughts and actions to ensure the successful completion of the "14th Five-Year Plan" and the scientific planning of the "15th Five-Year Plan" for economic and social development [1][2] Group 1: Economic Development - The session highlights the need to consolidate and strengthen the foundation of the real economy, promoting the renewal of traditional industries and the development of emerging and future industries [2][4] - The focus is on enhancing green development momentum and creating a new quality of productive forces [2][4] - The session calls for a comprehensive deepening of reforms and expansion of opening-up to better leverage the role of economic system reforms [2][4][5] Group 2: Technological Innovation - The session identifies accelerating high-level technological self-reliance and strength as a strategic task, reflecting the central government's emphasis on technological innovation [3] - The goal is to build a high-level technology province by 2035, focusing on original innovation and key core technology breakthroughs [3] Group 3: Industrial System - The session stresses the construction of a modern industrial system and the importance of maintaining a reasonable proportion of manufacturing [4] - It aims to create a modern industrial system with Jiangsu characteristics, integrating various technological and industrial innovations [4] Group 4: Financial and Market Regulation - The financial system is directed to serve the real economy and promote the integration of technological and industrial innovations [6][10] - The market regulation authority aims to enhance service for the construction of a modern industrial system and ensure safety in food, drugs, and industrial products [9] Group 5: Social Governance and Development - The session emphasizes the importance of social governance and the need for a comprehensive approach to enhance the effectiveness of social governance [11] - It highlights the role of various departments in promoting high-quality economic and social development through targeted actions and community engagement [11]

Core Viewpoint - The "15th Five-Year Plan" period is crucial for achieving basic socialist modernization and serves as a pivotal link between the first centenary goal of reform and the second centenary goal of national rejuvenation [3][10]. Group 1: Historical Functions of the "15th Five-Year Plan" - The "15th Five-Year Plan" period is tasked with three historical functions: domestic transformation, completion of reform tasks, and alignment with global rules [10]. - It acts as a critical "relay station" in the "two-step" strategy, connecting the "14th Five-Year Plan" and the "16th Five-Year Plan" [9][10]. - The period is also a "completion node" for over 300 major reform tasks, with a deadline set for 2029 [10]. Group 2: Highlights of the "15th Five-Year Plan" - The plan emphasizes the importance of the real economy, stating that economic development should focus on the real economy and maintain a reasonable proportion of manufacturing [6][11]. - It highlights the significance of "people," advocating for comprehensive human development and integrating investments in both material and human resources [7][18]. - The plan aims to promote new quality productivity by enhancing technological innovation and integrating it with industrial development [11][12]. Group 3: Strategic Positioning and Policy Coordination - The "15th Five-Year Plan" is strategically positioned to address complex internal and external environments, focusing on the well-being of the people [11]. - It emphasizes the coordination of various policies, promoting the deep integration of the digital economy with the real economy [11][12]. - The plan aims to establish a high-level market economy and advance the construction of a unified national market [11]. Group 4: Emphasis on Human Development - The "15th Five-Year Plan" places unprecedented importance on human development, upgrading the concept of people-centered development to a "people-first" governance principle [8][18]. - It aims to create a quantifiable and accountable reform loop that addresses the entire lifecycle of individuals, from birth to old age [18][19]. - The plan seeks to transform the demographic dividend into a quality dividend, ensuring that the populace feels tangible benefits from modernization efforts [19].

Core Insights - The Fourth Plenary Session of the 20th Central Committee of the Communist Party of China has approved the "Suggestions on Formulating the 15th Five-Year Plan for National Economic and Social Development," outlining the guiding principles and main objectives for China's economic and social development in the upcoming five years [1][3] - The "15th Five-Year Plan" is positioned as a critical period for achieving basic socialist modernization, linking the achievements of the "14th Five-Year Plan" with the long-term goals set for 2035 [3][4] - The plan emphasizes high-quality development as the primary goal, with a focus on building a modern industrial system and strengthening the foundation of the real economy [5][7] Economic Growth and Development - China's economy is projected to reach approximately 140 trillion RMB by 2025, with an expected increase of over 35 trillion RMB, contributing around 30% to global economic growth [1] - The upcoming five years are expected to create an additional market space of about 10 trillion RMB through the optimization and upgrading of traditional industries, while emerging industries are anticipated to generate a scale equivalent to recreating China's high-tech industry over the next decade [7] International Cooperation and Openness - The "15th Five-Year Plan" includes a dedicated section on expanding high-level openness, aiming to create a new landscape of win-win cooperation, enhance trade innovation, and expand bilateral investment cooperation [7] - China's approach to openness is shifting from "catching up" to "leading," with multinational companies increasingly viewing investment in China as a necessity rather than an option [7][8] Strategic Vision - The plan reflects a long-term vision with consistent goals, emphasizing that China will continue to pursue its modernization agenda despite external uncertainties [8] - The commitment to high-quality development and international cooperation positions China as a stabilizing force in the global economy, with expectations for significant contributions to world economic growth [6][8]

Core Viewpoint - The "15th Five-Year Plan" period is crucial for solidifying the foundation of socialist modernization and serves as a pivotal link between the first centenary goal and the second centenary vision of national rejuvenation [1][5]. Summary by Sections Strategic Positioning - The "15th Five-Year Plan" emphasizes the importance of the real economy, stating that economic development should focus on the real economy and maintain a reasonable proportion of manufacturing [2][11]. - The plan aims to promote comprehensive human development and integrate investments in both material and human resources, highlighting a people-centered approach to governance [2][12]. Historical Functions - The "15th Five-Year Plan" serves three historical functions: facilitating domestic transformation, concluding major reform tasks, and aligning with global rule adjustments [5][6]. - It acts as a critical "relay station" in the "two-step" strategy for modernization, connecting the "14th Five-Year Plan" and the "16th Five-Year Plan" [3][4]. Policy Coordination - The plan will promote deep integration between the digital economy and the real economy, focusing on building a modern industrial system while ensuring coordinated development across various sectors [6][7]. - It emphasizes the need for a high-level market economy and the establishment of a unified national market [6]. New Quality Productivity - The "15th Five-Year Plan" will prioritize the development of new quality productivity, enhancing technological innovation support policies and increasing basic research investment [6][8]. - It aims to leverage data as a new production factor to foster and expand new quality productivity [6]. Emphasis on Human Development - The plan places unprecedented importance on human development, integrating it into the macroeconomic framework as a core infrastructure alongside traditional sectors like transportation and technology [12][13]. - It establishes a quantifiable reform loop addressing the entire lifecycle of individuals, from birth to retirement, ensuring that the aspirations for a better life are measurable and accountable [13][14]. - The plan aims to convert demographic dividends into quality dividends, enhancing the sense of gain among the populace and embedding the principle of "people first" into governance processes [14].

新华社记者 齐中熙 魏玉坤 江金权说，制定"十五五"规划建议，系统谋划"十五五"时期经济社会发展，是实现党的二十大描绘 的宏伟蓝图、分阶段有步骤推进中国式现代化的需要，是有效应对复杂严峻的外部环境新变化、在激烈 国际竞争中赢得战略主动的需要，是适应我国发展阶段性要求、深入推动高质量发展的需要，意义重 大。 "全会召开期间，与会同志对《建议》讨论热烈，给予高度评价。普遍认为，《建议》是我们党历 史上又一个重要纲领性文献，指导方针科学精准，发展目标清晰明确，任务举措求真务实，是乘势而 上、接续推进中国式现代化的又一次总动员、总部署，必将对党和国家事业发展产生重大而深远的影 响。"江金权说。 明确指导方针和主要目标 中央财办分管日常工作的副主任、中央农办主任韩文秀介绍说，《建议》准确把握我国发展历史方 位，深入分析国际国内形势，明确了"十五五"时期经济社会发展的指导方针和主要目标。 关于"十五五"时期我国发展环境的总体判断，韩文秀表示，《建议》指出，我国发展处于战略机遇 和风险挑战并存、不确定难预料因素增多的时期。"十五五"时期，既要乘势而上，又要迎难而上，充分 发挥中国特色社会主义制度优势、超大规模市场优势、完整 ...

Group 1: Economic Development Strategy - The core outcome of the 20th Central Committee's Fourth Plenary Session is the approval of the "Suggestions on Formulating the 15th Five-Year Plan for National Economic and Social Development" [1] - The "15th Five-Year" period is crucial for achieving socialist modernization, with a focus on solidifying foundations and breaking through bottlenecks [1][2] - The emphasis is on relying on the real economy for future growth, with a significant contribution from the "three new" economies, which accounted for over 18% of GDP in 2024 [2] Group 2: Industrial and Agricultural Modernization - The plan outlines 12 strategic tasks, with the first being the construction of a modern industrial system to strengthen the real economy [2][3] - Traditional industries, which account for about 80% of manufacturing value, will undergo quality upgrades, with an estimated market space increase of around 10 trillion yuan over the next five years [3] - Agricultural modernization is prioritized, with specific measures to enhance agricultural productivity and ensure rural revitalization [4][5] Group 3: Technological Innovation - Technological innovation is highlighted as a key driver for economic and social development, with R&D investment expected to exceed 3.6 trillion yuan in 2024, a 48% increase from 2020 [7][8] - The focus will be on integrating technology with industry to enhance productivity and foster new economic growth points, particularly in artificial intelligence and high-tech sectors [8] Group 4: Open Economy and Global Integration - The strategy aims to shift from a "follower" to a "leader" in global trade, with initiatives to expand autonomous openness and enhance trade innovation [10][11] - China aims to leverage its large market potential, with over 800 million people expected to join the middle-income group in the next decade, to boost consumption and attract foreign investment [11]

（上接1版） 《建议》明确了"十五五"时期经济社会发展的指导方针和主要目标 中央财办分管日常工作的副主任、中央农办主任韩文秀介绍说，《建议》准确把握我国发展历史方位， 深入分析国际国内形势，明确了"十五五"时期经济社会发展的指导方针和主要目标。 关于"十五五"时期我国发展环境的总体判断，韩文秀表示，《建议》指出，我国发展处于战略机遇和风 险挑战并存、不确定难预料因素增多的时期。"十五五"时期，既要乘势而上，又要迎难而上，充分发挥 中国特色社会主义制度优势、超大规模市场优势、完整产业体系优势、丰富人才资源优势，把各方面优 势转化为高质量发展实际效能。 关于"十五五"时期经济社会发展的指导方针，韩文秀介绍说，《建议》强调，要全面贯彻习近平新时代 中国特色社会主义思想，围绕全面建成社会主义现代化强国、实现第二个百年奋斗目标，以中国式现代 化全面推进中华民族伟大复兴，统筹推进"五位一体"总体布局，协调推进"四个全面"战略布局，统筹国 内国际两个大局，完整准确全面贯彻新发展理念，加快构建新发展格局。 他说，《建议》提出坚持以经济建设为中心，以推动高质量发展为主题，以改革创新为根本动力，以满 足人民日益增长的美好生活需要 ...

Group 1 - The core message emphasizes the significance of the 14th Five-Year Plan in guiding China's economic modernization and high-quality development, highlighting the importance of the real economy and technological innovation [1][2] - The plan focuses on accelerating the application of artificial intelligence (AI) and promoting the intelligent transformation of industries, with a clear direction towards building a strong manufacturing and quality nation [1] - The emphasis is placed on enhancing the national innovation system and improving independent innovation capabilities to seize opportunities in the new technological revolution and industrial transformation [1] Group 2 - The company aligns its development strategy with the 14th Five-Year Plan, recognizing the real economy as a key advantage for China's growth and viewing AI as a critical opportunity for advancing in the global value chain [2] - The company advocates for a "hybrid AI" approach to promote the widespread application of AI, emphasizing the importance of data and knowledge as core drivers of enterprise intelligence [2] - The company's intelligent transformation has led to significant operational improvements, including a 28% reduction in supply chain order delivery time, a 25% increase in accuracy, and a 20% decrease in manufacturing and logistics costs, contributing to a balanced supply and demand [2]

中国央行党委召开会议，传达学习党的二十届四中全会精神。会议强调，构建科学稳健的货币政策体系。处理好短期与长期、支持实体经济增长与保持金融业自身健康性、内部与外部的关系。根据经济金融运行情况，把握好货币政策的力度、时机和节奏，充分释放各项货币政策效能，为经济稳定增长和高质量发展创造良好的货币金融环境。动态完善货币政策框架，加强货币政策执行和传导。深化人民币汇率形成机制改革，保持人民币汇率在合理均衡水平上的基本稳定。拓展丰富中央银行宏观审慎和金融稳定功能，维护股市、债市、汇市等金融市场平稳运行。继续会同有关部门做好支持地方中小金融机构、地方政府融资平台债务、房地产市场风险化解工作，严肃财经纪律、市场纪律和监管规则，防范道德风险。健全金融稳定保障体系，加快推进金融立法。 ...