What is China’s five-year plan, and why is it so important?

As next month’s fourth plenary session of the Communist Party’s Central Committee approaches, global attention is turning to China’s next five-year plan, which will be discussed at the gathering and will offer insights into how Beijing plans to navigate uncertainties amid rising tensions with the US.
China has used five-year plans – a strategy and time frame similar to that of the former Soviet Union – in the more than seven decades since the establishment of the People’s Republic. In that time,…