Economic Overview - The "14th Five-Year Plan" has guided China's economic and social development, achieving high-quality growth despite challenges [1][12][16] - China's GDP is projected to reach approximately 140 trillion yuan this year, with an average annual growth rate of 5.5% over the past four years [5][9] - The plan's target was to maintain GDP growth within a reasonable range, allowing for flexibility in macroeconomic governance [7][11] Consumption and Domestic Demand - Consumption contributed approximately 60% to economic growth during the "14th Five-Year Plan" period [21] - The government has implemented policies such as the "old-for-new" program, with 69 billion yuan allocated to stimulate consumption [22] - Service consumption is expected to grow at an annual rate of 9.6% from 2020 to 2024, reflecting increased demand for services as GDP per capita exceeds $13,000 [24][25] Foreign Trade and Global Positioning - China's foreign trade has shown resilience, with merchandise trade surpassing $6 trillion, maintaining its position as the world's largest trader [25][31] - Exports are projected to increase from $2.6 trillion in 2020 to $3.6 trillion by 2024, demonstrating strong growth despite global trade tensions [31] Research and Development - National R&D investment is expected to exceed 3.6 trillion yuan in 2024, marking a 48% increase since 2020, with R&D intensity reaching 2.68% [35][36] - The focus on innovation has led to significant advancements, including the operation of China's first fourth-generation nuclear power plant and the completion of the Tiangong space station [38][40] Industrial Transformation - The "14th Five-Year Plan" emphasizes the transformation of traditional industries and the growth of emerging sectors, with a focus on high-quality development [40][44] - Companies are increasingly adopting technology and sustainable practices to enhance productivity and product quality [42][44] Future Outlook - As the "14th Five-Year Plan" concludes, the groundwork is laid for the "15th Five-Year Plan," aiming for significant breakthroughs by 2035 [46][48]

Core Insights - The World Trade Organization's 2025 World Trade Report indicates that with the right supportive policies, artificial intelligence (AI) could increase the value of cross-border goods and services flow by nearly 40% by 2040 [1][2] - Global trade is projected to grow between 34% and 37%, while global GDP may increase by 12% to 13% by 2040, driven by AI advancements [1] - The report estimates that the total trade value of AI-enabled products will reach $2.3 trillion in 2023, highlighting the significant economic impact of AI on trade [1] Policy Recommendations - There is a need for open and predictable trade policies, as the number of restrictions on AI-related products has surged from 130 in 2012 to nearly 500 by 2024 [2] - Investment in education and training, along with appropriate labor market policies, is essential to prevent widening inequalities within economies [2] - Increased commitments from member countries, such as broader participation in the WTO's Information Technology Agreement and updates to the General Agreement on Trade in Services, can enhance the inclusivity and affordability of AI [2]