China party’s conclave on 5-year plan, US tariff threats begins today

China’s ruling Communist Party will begin its three-day annual leadership conclave to discuss the new five-year plan, the impact of US President Donald Trump’s tariff war and the ongoing anti-corruption crackdown in the military on Monday.

Besides the prevailing economic situation, the 370-member body plenum consisting of senior party leaders from across the country is expected to discuss the shifting global strategic environment with Trump’s efforts to expand the US role in establishing a ceasefire ending the hostage crisis in Gaza and pressuring Russia to put an end to the Ukraine war.

The closed-door plenary session, which will be held in Beijing from October 20-23, will discuss major issues related to the formulation of the 15th five-year plan (2026-2030) for national economic and social development, according to an earlier official announcement.

Discussions on the new five-year plan were expected to factor in the continued slowdown of the world’s second-largest economy, with stagnated domestic consumption, the excess capacity of new productive forces, especially the EVs produced in large volumes, and the impact of Trump’s tariffs and export curbs on them.