China's National Development and Reform Commission (NDRC) convened a symposium on Tuesday to gather insights from private technology enterprises regarding the upcoming formulation of the 15th Five-Year Plan for the period of 2026 to 2030. This initiative underscores the government's effort to incorporate diverse perspectives and stimulate collaborative innovation.

Chaired by Zheng Shanjie, the head of the NDRC, the meeting featured leaders from various participating companies who shared policy recommendations aligned with their operational realities and current trends in technological advancement. This format allowed for an open dialogue and detailed exchange of ideas.

Representatives from five notable private firms, including Moore Threads from Beijing, Ant Group based in Zhejiang Province, and BGI from Guangdong Province, contributed to the discussion. Their collective insights highlighted the advantageous position of the technology sector in driving economic growth.

During the session, Zheng attentively considered the suggestions and engaged in meaningful discussions focused on strategies to foster scientific and technological innovation within the framework of the upcoming Five-Year Plan. The dialogue revolved around the expectations for significant progress in technology over the next five to ten years.

Business leaders highlighted China's capacity to leverage its institutional strengths, extensive market potential, and a myriad of application scenarios. They proposed that these characteristics create substantial opportunities for advancing technological innovations and accelerating product iterations.

A central theme among the participants was the necessity for stronger integration of scientific and technological innovation with industrial advancements. Practical recommendations included aligning research with market needs and improving standards of living through technological progress.

Moreover, the attendees advocated for increases in support for essential innovation resources, such as funding, talent acquisition, energy provisions, and data utilization, which are vital for fostering a robust environment for innovation.

Zheng underscored the importance of the 15th Five-Year Plan, as directed by the Communist Party of China (CPC) Central Committee. He reaffirmed the commitment to engage various stakeholders in developing a comprehensive plan that reflects the input gathered from the business sector.

Acknowledging the critical role of private enterprises in driving high-quality economic growth, Zheng emphasized their dynamic capacity for innovation and the necessity of their involvement in shaping new productive forces.

The NDRC committed to carefully analyzing the input from enterprises, ensuring targeted policy measures are proposed, and enhancing support systems for private companies to play a more significant role in technological innovation.

In advance of the implementation of the 15th Five-Year Plan, set to commence in 2026, the NDRC will focus on establishing effective communication channels with enterprises, gathering feedback to tackle their challenges, and ensuring the healthy development of the private economy.

The strategic relevance of five-year plans in guiding China's national development is well recognized, as they delineate essential goals, major initiatives, and policy frameworks across different sectors.