14th Five-Year Plan

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The 14th Five-Year Plan, officially the 14th Five-Year Plan for Economic and Social Development and Long-range Objectives Through the Year 2035 of the People's Republic of China, was a set of Chinese economic development goals designed to strengthen the national economy between 2021 and 2025. It was drafted during the fifth plenum of the 19th Central Committee of the Chinese Communist Party (CCP) held from 26 to 29 October 2020. The 14th Five-Year Plan was drafted against the backdrop of worsening China–United States relations and the COVID-19 pandemic, which caused China's economy to shrink in the first quarter of 2020 – the first time in 44 years. Continuing themes from the prior two five-year plans, the 14th Five-Year Plan seeks to boost the services sector, increase urbanization and expand the social safety net to reduce precautionary savings, and also emphasizes high-tech innovation and hard science researches. To address the issue of an aging population, the 14th Five-Year Plan seeks to expand healthcare and retirement system initiatives.