The China Development Forum 2026 Annual Conference was held in Beijing from March 22 to 23, under the theme “China in the 15th Five-Year Plan: Advancing High-Quality Development and Creating New Opportunities for Cooperation.” Senior officials from the Ministry of Finance, the central bank, the Office of the Central Commission for Financial and Economic Affairs of the CPC Central Committee, and the National Energy Administration delivered key remarks on macroeconomic policy, sustainable development, and green energy transition.
China’s Minister of Finance, Lan Fo’an, emphasized that the government will increase investment in human capital over the next five years, with a significant portion of public expenditure allocated to public services. He noted that during the 14th Five-Year Plan period, China’s spending on public welfare sectors reached nearly 100 trillion yuan, accounting for more than 70 percent of total government expenditure. This, he said, has enabled the country to build the world’s largest systems of education, social security, and healthcare.
Pan Gongsheng, Governor of the People’s Bank of China, stated that financial support for the country’s economic transformation will be further strengthened. He announced the continuation of a moderately accommodative monetary policy, noting that China’s overall social financing remains stable. According to the International Monetary Fund’s classification, China follows a managed floating exchange rate regime. In the first quarter of this year, the renminbi appreciated by approximately 1.3 percent against the U.S. dollar, 3.7 percent against the euro, 3.2 percent against the Japanese yen, and 2.4 percent against the British pound. He stressed that China has neither the need nor the intention to gain trade advantages through currency devaluation.
Han Wenxiu, Executive Deputy Director of the Office of the Central Commission for Financial and Economic Affairs and Director of the Office of Rural Work, highlighted that the 15th Five-Year Plan will fully implement the new development philosophy, place high-quality development at its core, and create as well as share new opportunities with the rest of the world. He underscored that the plan prioritizes innovation-driven growth to energize the economy, with the establishment of a modern industrial system and the achievement of high-level technological self-reliance identified as two key strategic tasks.
At the forum, Wan Jinsong, Deputy Director of the National Energy Administration, noted that during the 15th Five-Year Plan period, China will ensure stable energy supply while accelerating the development of clean energy sources, including wind, solar, nuclear, and biomass energy. This approach aims to build a diversified and resilient energy system capable of mitigating risks. He also emphasized the integration of digital technologies into the modernization of the energy sector.
Source: Shishir-Touhid-Anandi, China Media Group.