BEIJING, Oct. 24 (Xinhua) -- As China approaches the end of its 14th Five-Year Plan (2021-2025), the country stands at a new starting point in its long-term modernization drive.

Despite a challenging global landscape marked by a sluggish recovery and supply chain fragmentation caused by protectionism, China has consistently served as a reliable engine of growth and a pillar of stability for the world economy.

During the past five years, China has contributed around 30 percent on average to global economic growth each year. Its share of the world economy has risen from 11.3 percent in 2012 to 17.1 percent last year. The country has remained the world's largest trader in goods for many years, while also ranking among the top globally in both attracting foreign investment and making outbound investment.

Behind this sustained momentum lies one of the hallmarks of China's governance: the five-year plan mechanism, which enables the country to pursue long-term goals with policy consistency, while allowing flexibility to adapt to shifting domestic and global landscapes.

China's roadmap for the next five years is already taking shape. While the full 15th Five-Year Plan is expected to be unveiled in March 2026, a communique from the recent fourth plenary session of the 20th Central Committee of the Communist Party of China has outlined key priorities, which include steering the development of new quality productive forces, building a robust domestic market and promoting high-standard opening up.

With steadfast emphasis on innovation and sustainability in its top-level planning, China has effectively powered its technological advancement and green transformation. The rapid rise of artificial intelligence exemplifies this shift. Smart manufacturing, intelligent driving, robotics and digitalized urban management are reshaping traditional industries and opening new frontiers for China's economic advancement.

At present, China stands as a global hub for green innovation and manufacturing, particularly in electric vehicles and solar panels. And it is playing an indispensable role in driving the world's transition to a sustainable, green economy.

Beijing has deepened international cooperation on green development. Working with over 100 countries and regions, China's wind and solar exports have helped reduce global carbon emissions by an estimated 4.1 billion tonnes over the past five years.

Meanwhile, China's vast market is steadily transforming its domestic demand into global opportunities. With a population of over 1.4 billion and more than 400 million people in the middle-income bracket, China records nearly 50 trillion yuan (about 7.02 trillion U.S. dollars) in annual consumption and over 20 trillion yuan (2.81 trillion dollars) in imports. For more than a decade, the country has remained the world's second-largest consumer market and the largest online retail market.

More importantly, this market is undergoing a profound structural upgrade. From expanding and improving goods consumption to making services a new growth engine, from building international consumption hub cities to upgrading county-level consumption, a more diversified, robust and promising domestic market is emerging, offering a broader stage for goods and services from around the world.

China's steady advance toward high-level opening up continues to send a strong signal of confidence and stability to the world. The country has removed foreign investment restrictions in manufacturing, broadened market access in sectors such as telecommunications, healthcare, and education, and established 22 pilot free trade zones as well as the Hainan Free Trade Port to further facilitate global business and investment.

High-quality Belt and Road cooperation has further broadened China's partnerships. From 2021 to the first half of this year, two-way investment between China and Belt and Road participating countries surpassed 240 billion dollars. New memorandums on cooperation in the digital, green, and blue economies have been signed with more than 50 partner countries, boosting emerging industries and sustainable growth.

As China charts the course for its next five-year plan, its steadfast commitment to reform, innovation and openness will continue to drive its development and create new opportunities for the global economy. ■