Illustration: Liu Rui/GT

Editor's Note: 

2026 marks the commencement of China's 15th Five-Year Plan (2026-30), a pivotal phase in the nation's medium- to long-term development. A successful venture starts with a good plan and with clear goals set. At this critical juncture, where a profound restructuring of the global order converges with a tipping point in the technological revolution, China's five-year plan is poised to inject momentum and certainty into global development, charting a steady course for the new journey ahead.

In its newly launched "New Blueprint, New Opportunities" series, the Global Times (GT) invites Nobel laureates in economics, former central bank governors, core decision-makers of international organizations and renowned economists from countries with diverse civilizations, different economic systems and stages of development to deeply analyze how the 15th Five-Year Plan will reshape the underlying logic of China's interaction with the world and to explore the "anchor of certainty" and "new paradigm of development" this plan offers to a turbulent world.

In the fifth installment of the series, GT reporter Su Yaxuan talked to Vince Cable (Cable), former UK secretary of state for business, innovation and skills. Cable shared his opinions on why he believes in China's five-year plans, as well as the lessons China's development trajectory over the past decade can offer to other countries.

GT: This year marks the first year of China's 15th Five-Year Plan. China's gross domestic product grew by 5 percent year-on-year in the first quarter of 2026, according to data from the National Bureau of Statistics released on Thursday. Do you have confidence in China's economic outlook for the next five years? What is your view on China's five-year plan system?

Cable: Yes, I do. I have confidence in China's development over the next five years. This is based on several factors: First, China has the ability to think and plan ahead. Second, the "new quality productive forces" should enhance overall productivity. 

In addition, the fact that the Chinese government has been very frank about the challenges makes me confident that they are on the right track.

We live in a very dangerous world, where barriers to trade and investment are now becoming serious, and China is having to adapt to that. China's plans are formulated based on its actual circumstances.

GT: In China's 15th Five-Year Plan, developing and strengthening the private sector is a key priority. You have also expressed interest in China's private enterprises and mentioned that when conducting research in China, you particularly enjoy engaging with Chinese businesspeople. In your conversations with them, what aspects do you focus on most? 

Cable: When one goes to Shenzhen, for example, you meet people from highly successful companies like BYD, which have emerged from virtually nowhere. When I was in government in the UK, I had a lot of dealings with Huawei.

Currently, the signals we're receiving indicate that China wants to give greater freedom to private enterprises, particularly in the tech sector.

It's about finding a balance between the public and the private sector, the state and private enterprises, which has been partly the kind of magic formula that has driven Chinese growth. Understanding how it is sustained in the future is what interests me.

GT: From an international standpoint, what valuable insights or lessons do you think China's 15th Five-Year Plan can offer to other economies?

Cable: I think it is right to continue to open up, as China does. The tariff war is a very damaging negative development, and it is affecting not just China, but also countries like Britain, which have long had very good relations with the US. 

China is a great economic success story, and I think we have to acknowledge and praise the people who made this possible. There are probably very few other countries in the world that have achieved this kind of success. Few have managed to progress from a very low level of economic development to become one of the world's leading economies, which is China's current status.

GT: How do you view the certainty that China brings to the world?

Cable: Predictability is a great asset because businesses make investments on the basis of certainty. We live in a very uncertain world - it is inherently uncertain - but the US administration has made it much more unpredictable.

Having a great power that is stable and predictable is a great asset. I would say the EU is also trying to be stable and predictable in its policies, not jumping around all over the place. 

So, if the EU and China together can offset the very unpredictable and dangerous activities of the US administration, that would be very helpful.

GT: You joined a Chinese social media platform last year and expressed a strong interest in engaging directly with Chinese citizens. You also noted the importance of clearing up misunderstandings between the people of the two countries. What motivated you to take this step and why does this kind of communication matter to you?

Cable: I've been fascinated with China for a long time. I first came 30 years ago. I then worked for a big international oil company. They were making a big investment in Guangdong and wanted to expand the Chinese business. I was sent out to do what we call scenario planning - some risk assessment, thinking about whether this was a good investment, and I gave a very positive report. It turns out the company has done very well; they made the right decision. So that was my first involvement.

Then, when I was in the British cabinet and government, one of my responsibilities was to build trade and investment relationships with China. I came to China several times. 

I wanted to continue my interest. In recent years, I've been writing about China and visiting. I want to learn more because China is a vast and dynamic country. I cannot speak Chinese, but that matters less and less with instant translation. Still, the size, complexity, and richness of its history fascinate me, and I want to know more.

I think also in the West, we have stereotyped views based on the fact that relations in the past have often not been good or have been quite shallow. My main ambition is to try to communicate a more balanced view of China to Western audiences. The important thing is to take what I would call a balanced and fair view of China and what's happening. If I do that, I think I will be doing some good.