The overall “14th Five-Year Plan (2021-2025) for National Economic and Social Development and Long-Range Objectives for 2035” is the Chinese government’s overarching planning instrument for social and economic development in the respective five-year period. Since 1953, the year the first Five-Year Plan (FYP) of the PRC was issued, China has been using this instrument for top-down and long-term development planning. A FYP helps the Chinese government first and foremost to strategically coordinate policies, mobilize resources and provide macro guidance.
The FYP is drafted by the CCP Central Committee and then formally sanctioned by the National People’s Congress, China’s highest legislative body. Thereafter, different ministries and regions in the subsequent months devise their more detailed FYPs based on the central- and thus more high-level national FYP. Such more detailed plans are still being issued over a year into the overarching plan, e.g. the “14th Five-Year Plan for a Modern Energy System” that was just published this week.
For a look at the high-resolution overview slide, click here.