In this column, external contributors provide perspectives on economic and financial topics.

China’s new Five-Year Plan is not a relic of Soviet-style central planning. It is a highly effective strategic governance instrument—and one that Swiss executives should take seriously.

For anyone seeking to understand where capital allocation, technological leadership, regulation, and competitive dynamics are heading over the coming years, China is indispensable. The 15th Five-Year Plan for 2026–2030, approved by the National People’s Congress on March 12, sets the framework.

«China’s new priorities are reshaping capital flows, wealth creation, client needs, and areas of cooperation.»

For Switzerland’s financial center, it may be tempting to dismiss the topic as primarily relevant to industrial corporates and exporters. Initial impulses are indeed strongest in manufacturing, robotics, energy, healthcare, green technologies, and AI.

China Operates Differently

Precisely for that reason, however, the plan is also highly relevant for banks, wealth managers, and fintechs: China’s evolving priorities in innovation, digitalization, and capital mobilization are fundamentally reshaping financing flows, wealth formation, client demand, and collaboration models.

China’s complexity and distinct way of operating compared with Western markets make this the right moment to build a deeper understanding.

A tangible use case already exists today in advising ultra-high-net-worth (UHNW) clients. These clients think long term and globally. Delivering truly holistic advice requires a sound understanding of developments in China. Without it, genuine 360-degree advisory remains out of reach.

«China has demonstrated a remarkable ability to translate long-term technological priorities into real-world capabilities.»

Significant Ground Gained

Those who dismiss such plans as blunt central planning underestimate their strategic impact. An Australian think tank found that between 2003 and 2007, the United States led in 60 of 64 critical technologies, while China led in just 3. Between 2019 and 2023, China led in 57 areas, with the U.S. leading in only 7.

This does not imply that China’s model is without weaknesses. But it clearly demonstrates the country’s ability to consistently translate technological priorities into tangible competitive strength over extended periods.

Much of what is outlined in the new Five-Year Plan has already been visible in execution over the past twelve months. After a phase in which entrepreneurial dynamism and startup-driven innovation had softened, there are clear signs that this momentum has returned.

New Entry Points for Swiss Fintechs

Notably, China’s historically B2C-driven startup ecosystem is likely to shift more toward B2B models. This creates new points of engagement for Swiss fintech and wealthtech firms.

The plan’s development process is also frequently misunderstood in the West. It is not drafted solely within a centralized power structure and then cascaded downward. Instead, it is preceded by extensive consultations with ministries, provinces, and subject-matter experts. Implementation is carried out through government bodies, corporates, universities, and industrial parks, with provinces retaining a degree of flexibility.

At the same time, external geopolitical pressure has reinforced alignment behind central leadership, increasing the likelihood of disciplined execution.

A Financial Lever for The Next Growth Phase

For the financial sector, a key takeaway is that the plan positions financing as a core lever for China’s next stage of development. As a result, capital markets are likely to continue opening—albeit alongside tighter regulatory oversight.

This dynamic creates opportunities for the Swiss financial sector, provided that institutions invest in building expertise now.

«The plan clearly points toward a more internationally relevant renminbi.»

An additional dimension is the growing importance of the renminbi and the development of payment infrastructures increasingly shaped by China. Early understanding of China, offshore RMB markets, and emerging payment rails will be critical for capturing opportunities in transaction banking, treasury, FX, wealth management, family offices, and fintech.

For Swiss CEOs in banking, wealth management, and fintech, China should therefore no longer be viewed as a peripheral topic.

While the most immediate opportunities may lie in other sectors, any executive seeking to understand the future trajectory of the global economy, wealth creation, technological leadership, and financial demand must be able to interpret China’s new Five-Year Plan.

Marc Lussy began his career in finance at UBS and later worked in private banking at Credit Suisse and Graubündner Kantonalbank. Since 2015, he has served as Head of Business Development for the German-speaking region at Since 2024, he has also been an Adjunct Expert at Zhejiang University International Business School in Haining (Zhejiang Province).

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