This study examines China's 13th Five-Year Plan, the most
authoritative strategic blueprint for the country's economic
policies under Xi Jinping. The plan seeks to rebalance the economy
toward more advanced technologies, greater environmental
protection, and a stronger social safety net. However, it does not
fundamentally rebalance the relationship between state and market,
with the government and Chinese Communist Party still left with
significant tools to micromanage most aspects of the economy.
Unless greater emphasis is given to shifting this balance, the most
likely result will be "growth with volatility," in which some
Chinese companies move up the value-added chain, but without
fundamentally improving the country's overall efficiency and
performance.
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