China under the new five-year plan will develop with higher quality and open up at a higher level, which is significant for boosting the world economy, said international experts who paid close attention to the fifth plenary session of the 19th Central Committee of the Communist Party of China (CPC).

Held in Beijing from Oct. 26 to 29, the plenary session adopted the CPC Central Committee’s proposals for the formulation of the 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035.

CHOI Jaecheon, former congressman of South Korea and Chairman of New Silkroad Institute, deems that China’s economic development is entering the era of high quality, and the Republic of Korea (ROK) should seize the opportunity to develop along with China.

“China’s development is moving toward an era of high quality. Comparing with speed, China now attaches more importance to quality to further improve the lives of the Chinese people, to which I paid special attention. In addition, from the global perspective of China’s economic influence on South Korea’s economy, South Korea should keep up with China’s strategies of digital development, environmental protection and ecological protection as soon as possible, and use the new characteristics of China’s development to make strategic choices that adapt to the new situation,” he said.

Meanwhile, Charles Onunaiju, director of the Center for China Studies in Nigeria, believes that China’s development is boosting the world economy as a whole.

“China is the first major economy to recover from the global pandemic. So the fifth plenary session of the [19th] Central Committee [of the Communist Party of China] is only confirming the obvious by way of putting out these figures, which clearly demonstrated that China was the first major country and it will have implications not just for the Chinese but for the global economy.”

“The party has an international duty to promote common development, and this has been explicitly stated in its key documents. Win-win framework, the Belt & Road international cooperation, even the Forum on China-Africa Cooperation, which we are just doing its 20th anniversary, you could see how enormously that framework has changed the landscape in Africa,” said the Nigerian Scholar.