Coronovirus reconstruction begins as top leaders of China plan for next five years

President Xi Jinping, who is also the head of the party, will join members of the central committee, the party’s top decision-making body, to prepare the 14th Five-Year Plan, by which China will operate from 2021 to 2025. .

In an unusual move, the committee will also formulate a “vision” for 2035, the year for which China has originally set a deadline to “achieve socialist modernization”.

The meeting is expected to run for four days and if any information will be released before the release on Thursday, the committee’s decision will be announced at that time. The Central Committee is made up of more than 200 delegates, who are elected by party representatives to their National Congress every five years.

Top leaders gather during the United States presidential election count of days for votes that remain at the forefront of the race due to the rapidly deteriorating coronavirus epidemic between US President Donald Trump and former Vice President Joe Biden.

Richard McGregor, a senior fellow at the Lowy Institute in Sydney, who focuses on the internal workings of the Communist Party of China, said that whoever wins the White House on 3 November is a “massive economic recovery job” in 2021. In Beijing, the Chinese government’s work on rebuilding the economy was well underway.

The success of China's Kovid compared to Europe suggests that lockdown is the first step, not the solution.

“At the moment, China has a great platform compared to the US and Europe, on which they can build this new policy framework because they have Kovid-19 under control,” McGregor said. “It benefits them a lot.”

The fifth plenary session of the Central Committee has historically been used as an opportunity to discuss the country’s next five-year plan. However, this year’s meeting took place during a period of great global uncertainty, with many countries experiencing economic and social upheavals.

The International Monetary Fund lowered its forecast for the global economy to 5.2% on 13 October in 2021 amid expectations of a “long, uneven” recovery from the epidemic.

Since then, the US and Europe have seen new outbreaks of coronovirus, with major governments intending to reimpose sanctions to prevent the spread of the disease, which has killed more than 1.1 million people worldwide Have taken

In comparison, China, where the outbreak first emerged, has brought the virus under control within its borders through mass targeted testing and extensive testing, making life normal in most parts of the country.

On October 18, the government announced that China’s economy grew 4.9% between July and September at a time when many other countries have seen a decline in production.

McGregor said China’s next five-year plan was likely to focus on pushing for “self-sufficiency” by Beijing, an attempt by Beijing to limit its dependence on the US and other countries.

During a visit to Guangdong in October, Xi said that China should “keep the development of the country and the nation on the basis of its strength, follow national self-esteem and confidence and follow our path.”

The Chinese leader and his top officials have been emphasizing domestic innovation and production for years, but with additional insistence in opposition to efforts by the Trump administration to limit the sale of American technology to Chinese companies.

China’s largest chipmaker, SMIC, announced in a filing to the Hong Kong Stock Exchange in October that its US supplier had been issued letters by the US Department of Commerce warning of a “ban” on exports of vital components.

McGregor said Xi and the Central Committee are trying to establish “in concrete form” a plan that limits America’s influence on China’s economy and could harm Washington.

“It may take some time, as China is still lagging behind in some areas of technology, but they will aim to consolidate their edge in areas such as 5G and artificial intelligence and hold on to areas like semiconductors,” he said.


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