China’s next 5-year plan puts focus on high-tech and consumers as trade friction drags on economy

China’s leaders have vowed to reduce its reliance on foreign advanced technology and spur stronger domestic demand as it weathers “high winds” amid elevated trade tensions with the U.S. An outline of the ruling Communist Party’s blueprint for the next five years was laid out in a 5,000-word communique released Thursday after a four-day top level meeting in Beijing, just days ahead of planned talks between Chinese leader Xi Jinping and U.S. President Donald Trump.

Five-year plans are a throwback to the days of Soviet-style central planning. China still relies heavily on them to map out policy priorities and decide on funding. Party “plenum” meetings like the one held this week also are used to rally the party rank-and-file around Xi’s leadership.

Thursday’s announcement signaled no major policy shifts. Despite mounting trade tensions, China intends to remain a global manufacturing power while sustaining strong economic growth at home.

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