By Herman Tiu Laurel

 

China’s periodic Five-Year Economic Development Plans have become legendary among nations of the world. Since its first in 1953-1957 to its 14^th for 2021-2025, China’s Five-Year Economic Plans have guided economic and technological growth to make China the world’s largest economy by Power Purchase  Parity measures within a short span of 75 years – achieving an economic status without war and plunder that took the Western world hundreds of years to attain through conquest and oppression.

The 14th Five-Year Economic Plan achieved GDP surpassing 130 trillion yuan and annual growth averaging 5.5% despite the impositions of various hurdles on it by Trade War 1.0 and 2.0, forging ahead and contributing 30% to Global Economic growth, increasing exports to other non-Western nations while benefitting the Global South with higher imports from Africa, Latin America and ASEAN. The Global South has been uplifted through China promoting sustainable development, poverty reduction, innovation and infrastructure cooperation.

China’s 115^th Five-Year Economic Plan for Economic and Social Development

            While the 2025-2030 very detailed set of economic and social goals of the 15^th Five-Year Economic Plan are clearly set out, it is important to understand that there is a set of fundamental guidelines to be considered, that: “upholding the Party’s overall leadership; putting the people first, pursuing high-quality development; comprehensively deepening reform, promoting interplay between an efficient market and a well-functioning government; and ensuring both development and security.”

            Leadership is of utmost importance; without leadership nothing can be accomplished. The People as the highest value binds the party and the nation in on purpose. Reform is constant to keep pace with the new developments, and high-quality advances fulfill rising expectations. Social market system with efficient governance maintains the balanced dynamics of society while order and social safety is assured. Over and above all these is the crystal clarity of ideological correctness which is part of leadership.

Objectives of China’s 15^th Five-Year Plan

            Generally, the many sources reporting on the objectives of China’s 15^th Five-Year Plan focus on the technological targets, the major point of contention between China and the Western economies. Hence, many focus on the following to develop “new quality productive forces: significant advancements in high-quality development; substantial improvements in scientific and technological self-reliance and strength; fresh breakthroughs in further deepening reform comprehensively.

            These are in particular technologies including clean energy, intelligent connected new energy vehicles, new materials, humanoid robots, advanced manufacturing, AI, semiconductors and ensuring supply chains resilience and advancing scientific research and talent cultivation, as well as to become globally competitive in aerospace industries and biotechnology and pharmaceuticals. The range of China’s Five-Year Plan technology and innovation push is simply mindboggling.

But other aspects of society are also emphasized such as cultural and ethical progress across society; further improvements in quality of life; major new strides in advancing the Beautiful China Initiative (creating a sustainable and environmentally friendly nation, reducing pollutants, achieving carbon neutrality, promoting green development, and conserving the ecosystem). Food security through increasing grain output, promoting agricultural innovation with technology is among the goals of the five-year plan.

China’s successful Five-Year Plans inject global confidence.

In the turbulent economic and trade time brought about by the tariff and kinetic wars China’s continuing economic growth and continuing push of free and open trade provides a hope of stability and continuing of global economic progress. China was the provider for 30% of Global economic growth in the period of the 14^th Five-Year Plan, it is expected that the 15^th Five-Year Economic and Social Plan will provide the same or even more growth, predictability and stability in the next five years.

China has been the provider of low-cost, global public good, prices to the emerging economies in Asia, ASEAN, Africa, Latin America and the Middle East which raises the countries productivity and exports to the Chinese market of 800-million new middle-class consumers which are targeted by the 15^th Five-Year Plan for increasing median Chinese incomes to $ 12,000.00 which redounds to greater demands for goods, fine food and services (including outbound tourism) which will energize exporting economies while boosting self-sufficiency.

Philippine-China Areas of Cooperation

            There is no denying from any quarter in the Philippines that the country is in serious economic and financial crisis. Philippine national debt has reached a record high of P 17.58-trillion as of end July 2025, government in the midst of its scandal of the century has    precipitated a drop in government revenues, while the overall trade deficit continues to deteriorate as the U.S. tariff war threatens to demolish the Philippine exports to the U.S. with a blanket tariff of 19% for imports to the U.S.

A few graphs will demonstrate the crisis the Philippines is in:

2025 will be even worse for the Philippines as we see in the chart of the stock market   performances of ASEAN countries:

No matter how bad the economic and financial crisis the Bongbong Marcos government clearly is not able yet to acknowledge that the Philippines needs to restore the Independent Foreign Policy, distance from the United States of America and its schizophrenic trade and geopolitical policies that offer no benefit to the Philippine and instead exploits its trade and security vulnerabilities. But already we are seeing saner heads steer the country back of restoring balance and normalcy with China.

            The November 20225 relaunching of eVisa (electronic visa) for Chinese visitors to the   Philippines is a signal that conscientious government officials who recognize the urgency of reviving economic ties with China are moving to reestablish cooperation. There is also an initiative emanating from the same department moving to establish talks between the Chinese Coast Guard and the Philippine Coast Guard for renewed cooperation and address maritime issues. The diplomatic tools may even open cooperation for the Philippines to benefit from the coming China Boom from its 15^th Five-Year Economic and Social Development Plan.

            These are the areas where Philippine-China cooperation can resume:

            Agriculture: China has developed brackish water rice breeds that have shown to yield up to 4.6 tons per acre;

            Digital and ICT: The Philippine and China have existing MoU on these two technological areas;

            Infrastructure: The resumption of the long delayed essential transportation infrastructure to promote trade and commerce, such as the 1,100 km. Mindanao Circumferential Railway, the PNR Long Haul South Luzon project, restoration of funding for the Clark-Subic Railway, among others;

            Sustainable Development, Climate Solutions and Renewable Energy, Green Transition: China is now the world’s leader in solar, wind and other renewable energy, it has pioneered in Small Modular Nuclear Power and Thorium Nuclear Reactors;

            Tourism: This is an area that can spur immediate infusion of much needed dollars into the Philippine economy but requires over and above the eVisa the reestablishment of goodwill and restoration of mutual respect and amity between the two peoples.

            These are just some of the areas of cooperation from the coming China Boom arising from it 15^th Five-Year Economic and Social Development Plan. ###

   

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