China’s 14th Five-Year PlanWhat is the background? China has been using five-year time periods to steer its economy since 1953. In the meantime, the focus of these Five-Year Plans (FYP) has shifted from socialist top-down economic planning to acting more as a “guideline” – setting targets and aligning incentives. A draft version of the 14th plan (2021-25) was released in late 2020 and the final version was passed in March 2021 at the Two Sessions – one of China’s major political meetings. More detailed implementation plans for major sectors, ministries, and regions will follow in the months ahead. In addition, …