A New Journey for Chinese Modernization
(H.E. Ambassador Yang Xiaokun)
All eyes are on China as the fourth plenary session of the 20th Central Committee of the Communist Party of China concluded on October 23th in Beijing. The session adopted the Recommendations of the Central Committee of the Communist Party of China for Formulating the 15th Five-Year Plan(2026-30) for National Economic and Social Development, mapping out the world’s second-largest economy’s development priorities over the next five years,which will be the next entry in a line of expansive blueprints that have charted the country’s development over more than 70 years.
Formulating and implementing five-year plans has been one of the major drivers of China’s progress, dating back to 1953. The quinquennial blueprints articulate China’s long-term development vision, set clear economic objectives, and design concrete pathways toward national progress. Since the early stage of reform and opening up, when China set the Second Centenary Goal of basically achieving socialist modernization by the middle of this century, every five-year plan has been designed and implemented in line with this overarching vision.
The concluding 14th Five-Year Plan (2021-2025) has delivered remarkable achievements across multiple fronts and played a pivotal role in advancing China toward this goal. During this period, China’s economic output consistently expanded — surpassing the milestones of 110 trillion (265 trillion Maloti), 120 trillion (289 trillion Maloti), and 130 trillion (313 trillion Maloti) yuan successively. China has achieved fruitful outcomes in scientific and technological innovation, with steady progress in developing new quality productive forces. Notably, China has broken into the top 10 of the Global Innovation Index for the first time and has established the world’s largest and most rapidly expanding renewable energy system.
Recently, China’s “three-quarter economic report” was officially released. In the first three quarters of 2025, China’s GDP increased by 5.2% year-on-year, accelerating by 0.2% & 0.4% compared to the full year of the previous year and the same period of the previous year respectively. More over, China’s GDP is projected to reach 140 trillion yuan (337 trillion Maloti) this year, securing a steady and progressive trend of domestic economic development and injecting confidence and stability to the world.
Entering the critical phase of the 15th Five-Year Plan (2026-30), China’s external environment is undergoing more profound and complex changes. Despite these challenges, China’s economic fundamentals remain sound, with multiple strengths, strong resilience, and vast potential. The underlying conditions and long-term positive trajectory that support sustained growth have not changed. The institutional strengths of socialism with Chinese characteristics, the advantage of a supersized domestic market, a complete industrial system, and abundant human resources have become even more prominent.
Building upon the growth momentum achieved during the previous period and the above-mentioned strength and advantages,the 15th Five-Year Plan will specifically outline how to explore new frontiers in development for greater achievements. It will focus on key issues of overall and long-term significance, outlining strategic tasks and major initiatives for the next five years in 12 key areas, including industrial development, technological innovation, domestic market, economic system, opening-up, rural revitalization, regional development, cultural development, livelihood security, green development, safe development, and national defense. It sets the ambitious goal of achieving a per capita GDP at the level of moderately developed countries by 2035, which is inspiring. As President Xi Jinping pointed out, the Chinese economy is like a vast ocean, big, resilient and promising. We have the confidence and capability to navigate all kinds of risks and challenges.
Another important signal conveyed by the plenary session is that in the next five years, China will open its doors even wider. Opening up is a defining feature of Chinese modernization. In recent years, China has continuously advanced high-standard opening-up. We have deepened the structural reform in foreign trade and investment, removed all market access restrictions for foreign investors in the manufacturing sector, and provided zero-tariff treatment on 100 percent of tariff lines to all Least Developed Countries having diplomatic relations with China, including Lesotho. All these measures have been warmly welcomed worldwide.
In the next five years, we will continue to expand opening up at the institutional level, safeguard the multilateral trading system, and promote broader international economic flows. We will take the initiative to open up wider, promote the innovative development of trade, create greater space for two-way investment cooperation, and pursue high-quality Belt and Road cooperation.
The most recent IMF World Economic Outlook revised down projected global growth for 2025 to 3.2 percent from 3.3 percent last year, reflecting the impact of rising unilateralism and protectionism. With China contributing around 30 percent of annual global economic growth, the international community is closely watching how we will take the lead in a world of uncertainties and volatility. In response, the plenary session has sent a strong message of stability: China remains steadfast in embracing economic globalization, advancing reform and development through greater openness, championing true multilateralism, and sharing opportunities and pursuing common development with the rest of the world. With an even more visionary five-year plan and new modernization blueprints on the horizon, China is charting a course that will shape not only its own future, but also the world’s.
China and Lesotho are close friends and partners. What unites the two countries, despite the geographical distance, is a parallel approach to development—one that follows concerted roadmaps while embracing global partnership. While China embarks on the new journey towards the Second Centenary Goal, Lesotho is making progress under the guidance of the National Strategic Development Plan II(2023-2027). Facing the challenges of global recovery, the task of energy transition, and opportunities brought by technological transformation, both countries advocate for navigating changes through collaboration and achieving win-win outcomes through mutual benefit.
Looking ahead,China stands ready to further deepen and expand the China-Lesotho strategic partnership,align the implementation of the outcomes of the FOCAC Beijing Summit and China’s 15th Five-Year Plan with Lesotho’s National Strategic Development Plan II, boost mutual beneficial cooperation across areas, ensure that the development dividends better benefit the people of both countries, and write a beautiful new chapter in our joint pursuit of modernization.
