FT News Briefing Why Beijing still loves its five-year plans
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Oct 20, 2025 A dramatic meeting in the White House sees Trump urging Ukraine to accept Russia's terms amidst the ongoing war. Meanwhile, China’s five-year plans emerge as a surprising constant in its shifting political landscape, ensuring stability despite heavy criticism. Global hedge funds make a comeback in Hong Kong listings, signaling renewed market confidence. Additionally, a surge in rare earth metal stocks highlights the intense competition between the U.S. and China over crucial resources, with significant implications for future investments.
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White House Meeting Turned Contentious
- The FT reported that President Trump told Volodymyr Zelensky to accept Kremlin terms or be "destroyed by Russia" during a tense White House meeting.
- The meeting followed a Trump call with Vladimir Putin and preceded their planned Budapest meeting.
Five-Year Plans As Stability Architecture
- China uses five-year plans to give broad guidance and maintain policy consistency across a vast, diverse economy.
- The plans signal expectations and support political stability rather than micro-manage every market outcome.
High-Tech Push And Property Watch
- The upcoming plan will stress industrial upgrading and high-tech manufacturing amid rising trade tensions with the West.
- Mentioning property or omitting it will be a clear signal about how Beijing views the persistent real-estate slowdown.