The blueprint emerged from a four-day Communist Party plenum that concluded on October 23, during which party chief Xi Jinping and the all-powerful Central Committee pledged to advance core technologies from semiconductors to artificial intelligence to quantum computing. They also highlighted tech self-reliance, domestic consumption and improving people’s livelihoods as key goals for 2026-2030.
The Communist Party issued a summary of the development goals on the day the plenum ended, and a week later released the detailed proposal. While the five-year plan will not be finalised until the legislative National People’s Congress in March, the initial details are enough to reshape the investment landscape and help traders identify key medium-term opportunities.
“The five-year plan is expected to reset investment themes and the valuation system on the capital market,” said Wang Jun, a strategist at BOC International in Shanghai. “The new productive force represented by tech self-reliance, the green transition and an upgrade of domestic demand may run through the policy front and investment themes in the next five years. We expect long-term capital such as mutual funds and insurance funds to further tilt towards those industries of strategic value.”
Chipmakers, robotics companies, high-end manufacturers and stocks linked to domestic consumption were set to emerge as outperformers in the long run, according to brokerages including Guotai Haitong Securities and Huajin Securities.
In a sign of how critical technology will be for China’s growth in the following five years, the proposal had 46 references to the word, compared with 36 in the plan for 2020-2025.
