China named new energy, new materials, aerospace, and the low-altitude economy as emerging industries to be fostered over the next five years (2026–2030). It added that it will make future industries such as quantum science, biomanufacturing, hydrogen and nuclear fusion energy, brain–machine interfaces, embodied intelligence (Embodied AI), and sixth-generation mobile communications (6G) new drivers of growth.
Zheng Shanzheng, director of the National Development and Reform Commission, said this at a press conference on Oct. 24 in the morning local time announcing the results of the fourth plenary session of the 20th Central Committee of the Communist Party of China, which wrapped up the previous day, as he unveiled the economic development plan for the next five years. Earlier, the Fourth Plenum passed the Proposal on Formulating the 15th Five-Year Plan (hereinafter the Proposal).
Zheng said, "In 2024, the value added of China's 'three new (三新) economy' has exceeded 18% of gross domestic product (GDP)," and "the Proposal suggests accelerating cluster development of strategic emerging industries such as new energy, new materials, aerospace, and the low-altitude economy," adding, "This will give rise to markets worth trillions of yuan one after another."
He then cited areas among future industries including quantum science, biomanufacturing, hydrogen and nuclear fusion energy, brain–machine interfaces, embodied intelligence (Embodied AI), and sixth-generation mobile communications (6G), saying, "We will work to make these areas new drivers of economic growth. These industries have already built up strength and will grow to a considerable scale over the next 10 years."
He went on to announce goals including: ▲ promoting high-quality, high-efficiency development of the service sector ▲ building a modern infrastructure system ▲ creating a strong domestic market ▲ optimizing the structure of government investment ▲ promoting market circulation ▲ promoting balanced regional development.
A message also came that external opening will be expanded to a high level. Minister Wang Wentao of the Ministry of Commerce said, "Our reform and opening up have continuously lowered border barriers," adding, "Our goods trade has ranked No. 1 in the world for eight consecutive years, and services trade exceeded $1 trillion last year. The attraction of foreign capital met the targets of the 14th Five-Year Plan half a year ahead of schedule, and outbound investment has steadily remained in the global top three."
Director General Wang said, "During the 14th Five-Year Plan period, imports of goods and services trade are expected to exceed $15 trillion," adding, "Through outbound investment, we have paid more than $30 billion in cumulative taxes to host countries, created large-scale local employment, and promoted local industrialization and modernization. High-level opening is a great endeavor beneficial to both China and the world."
He continued, "Protectionism is rearing its head around the world, but economic globalization is the trend of history. China will unwaveringly expand opening," and, quoting Chinese President Xi Jinping, said, "If our opening was 'following,' now it must lead. We will faithfully implement the 15th Five-Year Plan, continuously raise the level of external opening, and expand the development space of Chinese-style modernization."