As China drafts its 15th Five-Year Plan (2026–2030), the focus isn’t just on economic growth—it’s about high-quality development that’s inclusive, green, and tech-driven. In an exclusive chat with CGTN, Albert Park, the Asian Development Bank’s (ADB) chief economist, broke down what’s next for the world’s second-largest economy. Spoiler: It’s all about EVs, AI, and saving the planet. 🌍
Beyond GDP: Quality Over Quantity
Park praised China’s shift from chasing GDP numbers to building a ‘new quality productive forces’ economy. Think electric vehicles (EVs), renewable energy, and AI—sectors where China is already leading the charge. 🚗⚡️🤖 "Being part of global value chains drives innovation," he said, stressing the need for openness despite rising trade tensions.
Tech Wars & Self-Reliance
With global tech competition heating up, Park acknowledged China’s push to "become more self-reliant" in critical sectors. But he warned against trade wars: "There are no winners." Instead, boosting domestic consumption could balance trade gaps and keep growth sustainable. 💪🛒
Green Goals: Carbon Peaking by 2030
China’s carbon-neutral ambitions got a thumbs-up from Park. The country’s expanding carbon markets and emission cuts are "crucial for global climate goals," he said. 🌳📉 "Great news for the world!"
Digital Revolution for All
Park highlighted how digital transformation is lifting incomes, especially for lower-income households. Cities with faster tech adoption saw "higher growth for the poorest," proving tech can be inclusive. 📱💻 Governments, he added, must ensure access to digital tools and prioritize AI in healthcare and education.
Data Dilemmas: Balancing Innovation & Security
While AI and digitalization bring risks—like privacy concerns—Park urged "nuanced governance" to protect users without stifling innovation. The ADB is pushing for regional standards to keep data flows safe and seamless. 🔒🌐
