Liu Shijin on the "14th Five-Year Plan": Breaking Free from Path Dependence and Reducing Structural Biases of Insufficient Consumption

WealthCoffee · 2026-03-20T14:38:36+00:00

Starting from 2026, China will enter the "15th Five-Year Plan" period, with the economic development model shifting from investment and export-driven to innovation and consumption-driven, requiring policies to focus on the demand-side orientation of consumption and human capital.

WealthCoffee

2026-03-20 14:38:36

Abstract generation in progress

** Caixin** Starting from 2026, China will enter the “14th Five-Year Plan” period. During this time, what changes will occur in China’s economy? How can we promote the formation of the “14th Five-Year Plan” outline’s goal of developing an economic model primarily driven by domestic demand, consumption, and endogenous growth?

Liu Shijin, former deputy director of the Development Research Center of the State Council, stated at the launch of the new book “Looking Ahead to the 14th Five-Year Plan” on March 17 that China’s economic growth momentum is shifting from being mainly driven by investment and exports to being driven by innovation and consumption. Accordingly, planning and policies should shift from a supply-side focus on industrial and physical capital investment to a demand-side focus on consumption and human capital.

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