China codifies five-year plan system with landmark law

Chinese lawmakers adopted the National Development Planning Law on Thursday at the closing meeting of the fourth session of the 14th National People's Congress.

The new law seeks to cement China's planning mechanism as a cornerstone of national development.

China has successfully implemented 14 five-year plans, each serving as a critical engine for the nation's rapid economic transformation. The country's lawmakers also approved the outline of the 15th Five-Year Plan (2026-2030) for national economic and social development at the same meeting on Thursday.

Officials hail the legislation as a crucial step in institutionalizing China's long-standing practice of using five-year plans to drive construction and economic growth.

Ultimately, the law is designed to foster synergy among various planning policies through enhanced top-level design.

Tong Weidong, director of the State Law Department at the NPC Standing Committee's Legislative Affairs Commission, highlighted the law's broader economic implications.

"The law will legally ensure the continuity, stability, and authority of national development plans," Tong stated.

He noted that this legal certainty is vital for providing stable expectations for social capital, including foreign investment.