Chinese Premier Li Keqiang on November 25, chaired a meeting of the State Council to discuss China’s 14th Five Year Plan (FYP), which will run from 2021 to 2025. Over the course of the past year, every level of government has been conducting preliminary research to feed into the plan.

Li Keqiang first reminded everyone that “The external environment may be more complex [than in previous years]” and that “Our country is in a critical period of transforming its development model, optimizing its economic structure, and shifting its drivers for growth.” He asked the officials to propose policies for the FYP that would: (i) Develop the economy; (ii) Prevent and resolve risks; (iii) Delineate the boundaries between government and the market; and (iv) Build an international and rules-based business environment. The Party will try and approve the outline at next year’s Fifth Plenum, which is likely to be held in October.