Since the launch of the first Five-Year Plan (FYP) in 1953, China has achieved remarkable progress in socioeconomic and human development. The past seven decades have seen China’s implementation of 14 FYPs.

The beauty of this institutional design lies in integrating the long-term development strategy with pragmatic course of action, plus creating an efficient market with a proactive government role, coupled with a top-level planning reinforced by massive public input.

From the 1st to the 15th FYP, China’s overarching goal has remained to steer its national development steadily towards set objectives, pool resources available to achieve an epic leap forward, and enable China to stand on its own feet, grow prosperous, and become strong, ultimately advancing towards a great modern socialist country in all respects.

Over the past 72 years, China has, with support from friendly nations worldwide, vigorously developed its industrial complex, which covers manufacturing the first made-in-China automobile and aircraft, the construction of the Wuhan Yangtze River Bridge, and the successful development of atomic and hydrogen bombs and artificial satellites, to name just a few. These milestones have helped transform an impoverished and agrarian China into a modern industrial country, and established a comprehensive industrial and economic system, laying a solid foundation for future growth.

The 6th to the 10th FYP period saw China’s rapid ascent following its reform and opening up. The land household contract responsibility system reinvigorated the........

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