China's Communist Party conclave in October to discuss new five-year plan, Donald Trump's tariffs

Beijing: China's ruling Communist Party will hold its annual leadership conclave in October to discuss the new five-year plan, challenges posed by US President Donald Trump's tariff war, his attempts to seize control of TikTok and ensuing strains on the Chinese economy.

Besides the prevailing economic situation, the 370-member body of senior party leaders from across the country is expected to discuss the outcome of the Shanghai Cooperation Organisation (SCO) summit, attended by Prime Minister Narendra Modi, among others.

The plenary session will be held in Beijing from October 20-23, an official statement, issued after the influential Political Bureau meeting presided over by Chinese President Xi Jinping, said on Monday.

The meeting discussed major issues related to the formulation of the 15th Five-Year Plan (2026-2030) for national economic and social development.

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 E-Vehicles produced in large volumes by provinces, and the impact of Trump's tariffs and export curbs on them.

The unemployment rate is stated to be around 20 per cent, causing concern to the CPC leadership.

In his recent speeches, Xi has been asking the party to take a “forward-looking approach” and consider the impact of the changing international landscape on China.

After the endorsement by the plenary meeting, the draft will be submitted to the National People's Congress (NPC), the parliament, in March next year.

The October plenary session will be held a week before Xi participates in the Asia-Pacific Economic Cooperation summit in South Korea, where he is expected to meet Trump on the sidelines.

The two leaders spoke over the phone recently, and Trump claimed Xi approved a proposal for the US to acquire a major share of popular Chinese media app TikTok, which Beijing views as an asset. The two countries are holding talks to reach a new trade deal over Trump's tariffs. 

The meeting is also expected to discuss the eventful past few weeks during which China held the SCO summit in Tianjin on Aug 31-Sept 1, in which PM Modi and Russian President Vladimir Putin took part.

Modi's visit to China, his first in seven years, was regarded as significant and took place against the backdrop of growing discord between the US and India, especially over India’s oil imports from Russia. He and Xi held in-depth talks on the SCO sidelines to revive stalled relations after the Eastern Ladakh military standoff. 

Trump is also attempting to woo Pakistan, China's all-weather ally, by hosting meetings with its Prime Minister Shehbaz Sharif and Army Chief Asim Munir, which raised eyebrows here. This is the first time in years that Washington is attempting to strike a close relationship with Islamabad.

Also, the plenary meeting will take place in the backdrop of China organising its largest military parade in Beijing to commemorate the 80th anniversary of its victory against "Japanese aggression" in WWII.

The parade, attended by 26 foreign leaders, including Putin and North Korean leader Kim Jong-un, showcased the Chinese military's most advanced weapons.

The Political Bureau, on Monday, heard a report regarding the opinions solicited from within and outside the party and the government for formulating the 15th Five-Year Plan, and decided that the document will be revised accordingly, the statement said.

The meeting underlined the importance of ensuring that more benefits of modernisation are shared more fairly among all people.

The meeting also urged efforts to ensure both development and security and effectively prevent and defuse risks in key areas, it said.