By H.E Yu Dunhai
A foreign head of state used to tell Chinese President Xi Jinping, “China has a major advantage, which is always formulating various plans and ensuring they are fully implemented.” One of the most representative examples he noted is the Five-Year Plan for National Economic and Social Development. President Xi Jingping emphasized that the formulation and implementation of these well-designed five-year plans reflect important experience on governance of the Communist Party of China (CPC) and represent a significant political advantage of socialism with Chinese characteristics.
In October, during the Fourth Plenary Session of the 20th Central Committee of the CPC in Beijing, the Recommendations of the Central Committee of the Communist Party of China for Formulating the 15th Five-Year Plan for National Economic and Social Developmentwas adopted. Once reviewed and approvednext year by the National People’s Congress,the plan will become the 15th Five-Year Plan since the founding of the People’s Republic of China, providing top-level design and strategic guidance for China’s economic and social development over the next five years and outlining a dynamic blueprint that captures the momentum of the times.
Since its founding in 1949, the People’s Republic of China has successfully implemented 14 Five-Year Plans spanning more than seven decades. Through the sustained efforts of successive generations, the country has steadily transformed itself from a poor and backward nation into the world’s second-largest economy and largest manufacturing hub. Throughout this period, Chinese society has maintained enduring harmony and stability, with its people living and working in peace and contentment and its per capita GDP now exceeding $13,000. These achievements exemplify what has been termed the “Two Miracles” rapid economic growth coupled with long-term social stability, a phenomenon rarely seen elsewhere in the world. Central to this success is the distinctive Chinese approach to Five-Year Planning.
During the 14th Five-Year Plan period, China saw its economic and technological strength as well as its comprehensive national strength leap to a new level, and Chinese modernization made solid new strides. China’s economic strength rose substantially, its global influence was further enhanced, and its scientific and technological capabilities gained global attention. In 2024, China’s GDP reached 18.9 trillion USD (based on the average annual exchange rate), firmly maintaining its position as the world’s second-largest economy. China’s annual contribution to global economic growth remains around 30%, making it one of the most stable and reliable sources of global economic development, fully demonstrating the resilience and vitality of a major economy, and becoming one of the fastest-growing countries in terms of innovation capacity.
At the 20th National Congress of the Communist Party of China, the goal was set to basically achieve socialist modernization from 2020 to 2035. The 14th Five-Year Plan period (2021–2025), representing the first phase of this timeline, has achieved a strong start. The subsequent period from 2026 to 2030, which falls under the 15th Five-Year Plan, will be a crucial stage for consolidating the foundation and achieving all-out progressto basically achieve socialist modernization by 2035. As such, it will serve as a key link between the past and the future. A well-formulated and effectively implemented 15th Five-Year Plan will lay a more solid foundation for reaching this goal. The 15th Five-Year Plan will continue to focus on promoting high-quality development as its central theme and set out the guiding principles, major objectives, strategic tasks, and significant measures for economic and social development over the next five years, thereby drawing a grand blueprint for economic and social development.
Looking ahead, China’s development prospects are bright. By leveraging the strengths of socialism with Chinese characteristics, China’s enormous market, its complete industrial system, and its abundant human resources and under the strong leadership of the CPC, the Chinese people will pool their strength and turn this grand blueprint into reality through sustained and determined efforts.
Formulating and implementing Five-Year Plans with Chinese characteristics not only injects sustained momentum and stability into China’s own development, but also offers a new governance paradigm for many Global South countries that have been exploring modernization, namely, a “long-termism” development approach that is self-reliant and sustainable. Chinese modernization will provide important references and practical opportunities for Nigeria and other African countries to achieve economic transformation, advance industrialization, and enhance self-reliant development capacity. Within framework of the Forum on China-Africa Cooperation (FOCAC) and of the Belt and Road Initiative (BRI), China is willing to strengthen governance experience-sharing and development strategy alignment with Nigeria, deepen practical cooperation between the two countries across various fields. The two countries will work together to implement zero-tariff policies through negotiation and signing of joint development economic partnership agreements, therefore enabling Nigeria to unlock its development potential, strengthen its endogenous driving force, and promote the building of a high-level China-Nigeria community with a shared future.
Yu Dunhai, Chinese Ambassador to Nigeria
