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Summary

China’s leaders are meeting in October to finalize proposals for the country’s fourteenth Five-Year Plan (2021–2025). As tensions with the US intensify and economic growth slows, Beijing is under pressure to produce a five-year plan that delivers its “Made in China 2025” ambitions on time and is likely to turn to increased state intervention in strategic sectors of the economy as a central tenet of the upcoming five-year plan.

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Having more than doubled its GDP and GDP per capita since 2010 as well as sharply reduced extreme poverty domestically, China can reasonably claim to be a “moderately prosperous society,” reaching the first of its two centenary goals. Sights have now been set on achieving “national rejuvenation,” its second centenary goal, by 2049. Although the exact implications of “national rejuvenation” remain undefined, the term often refers to the restoration of China’s political and economic significance on the world stage. Innovation-driven development remains a cornerstone of “national rejuvenation,” and Beijing established benchmarks in the 13th Five-Year Plan (2016–2020) for measuring China’s progress in next-generation IT, robotics, high-end manufacturing, and a myriad of other high-tech industries. …

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