Chinese President Xi Jinping opened a major Communist Party meeting on Monday, delivering a speech outlining the country’s draft blueprint for economic and social development from 2026 to 2030, state media reported.

A brief statement from the official Xinhua News Agency said Xi “expounded on the Party leadership’s draft proposals” for the upcoming five-year plan, but provided no specific details about its contents.

The meeting — one of the most significant political gatherings in China’s policy calendar — comes as Beijing faces a combination of economic headwinds, technological restrictions, and rising trade tensions with the United States.

In an accompanying editorial, Xinhua said the new plan should emphasize “high-quality development” driven by technological innovation, while strengthening national security and ensuring that the benefits of growth are distributed more equitably.

“There will be hardships and obstacles on our way forward, and we may encounter major tests,” the editorial warned. “We must be prepared to deal with a series of new risks and challenges.”

Observers say the plan is expected to set ambitious targets for advanced manufacturing, semiconductor self-reliance, and green energy, while continuing Xi’s push to integrate economic policy with national security imperatives.

Analysts and investors are closely monitoring the closed-door session for signs of how the leadership intends to revive domestic consumption, manage an aging population, and navigate a global environment increasingly skeptical of China’s trade and investment practices.

Many are also watching for clues about whether Beijing will pursue structural reforms to stimulate household spending — a key weakness in China’s post-pandemic recovery.

The four-day meeting brings together about 200 full members and 170 alternate members of the Communist Party’s Central Committee, which serves as the top decision-making body between party congresses.

While the committee is expected to approve the draft plan during this session, full details are unlikely to be released until the National People’s Congress — China’s legislature — formally endorses it at its annual meeting in March.

The new five-year plan will chart China’s priorities through the end of the decade, shaping the direction of the world’s second-largest economy amid slowing growth, intensifying geopolitical rivalries, and Xi Jinping’s continued drive for self-reliance and political control.