稳步且可持续地推进，以长期生产力为先 - 2026-10-19
Local governments across China have been striving to make a strong start in the inaugural year of the 15th Five-Year Plan (2026-30). Many regions have eagerly organized large-scale project-signing ceremonies, thus showcasing their achievements in attracting investment.
This atmosphere of competitive enthusiasm could lead to a common misconception: some might equate the sheer number of signed projects with political achievements or treat the scale of investment as the sole indicator of development.
However, the central government has repeatedly emphasized that promoting high-quality development is the overarching theme of economic and social progress during the 15th Five-Year Plan period.
Local governments have been urged to adopt a proper perspective on political achievements, focusing not on "whether there are projects" but rather on "whether projects contribute to long-term productivity".
This shift in evaluation criteria is not an arbitrary demand, but a choice necessitated by the realities of the new development stage.
Internationally, the world is undergoing profound changes. The global environment of large-scale trade and investment flows is shifting, with rising unilateralism and protectionism, the fragmentation of international trade and economic order, and the forced restructuring of global industry and supply chains. Against this backdrop, the importance of a unified domestic market has become increasingly evident.
Domestically, supply and demand are not yet fully aligned, with demand lagging somewhat behind supply. Consumption and investment face insufficient growth momentum, production costs are rising, many enterprises are struggling with operational difficulties, key sectors are burdened with risks and local government debt levels are climbing, creating significant pressure to service debts.
All these go to show that in certain areas, a disconnect exists between project quantity and development effectiveness. Some officials, driven by promotion anxiety, are inclined to adopt shortcut strategies that prioritize short-term results, substituting impulsive decision-making for democratic processes.
This often leads to irresponsible borrowing to hastily launch projects that disregard actual needs and objective realities. While it is easy to inflate project numbers through repetitive investments, achieving real growth is far more challenging. In some cases, project-signing events are lively and grandiose, but those projects remain idle after the launch, eventually becoming hidden local debt liabilities.
For instance, in some western regions, ill-considered borrowing for grandiose projects has led to financial burdens. There are also diminishing marginal returns on investments in certain regions.
In addition, some local governments resort to unhealthy competition to attract projects, engaging in bidding wars with excessive subsidies, lower land prices or relaxed environmental and energy consumption standards.
This has led to the rise of "subsidy-chasing" enterprises, which relocate after they exhaust the provided benefits, leaving fiscal subsidies wasted.
Consequently, the central authorities have called for comprehensive measures to curb such excessive competition, regulate the behavior of local governments and enterprises, and introduce lists of encouraged and prohibited practices for local government investment promotion efforts.
Such focus on projects where quantity is prioritized over quality exemplifies a distorted view of political achievements.
It is essential to abandon the mindset of seeking instant success and embrace a pragmatic approach, prioritizing long-term productivity and the potential of projects to improve people's livelihoods. Only by doing so can genuine and enduring accomplishments be realized.
When evaluating whether a project is worth pursuing, one cannot simply look at the size of investment or the amount of land it occupies.
Instead, the focus should be on whether the project aligns with the requirements of emerging productive forces, whether it promotes technological iteration and industrial upgrading, and whether it fosters collaboration among upstream and downstream enterprises to cultivate a sustainable industrial ecosystem.
Beyond evaluating short-term GDP contribution, projects must be analyzed in terms of their potential to drive structural and dynamic changes, thereby improving overall total factor productivity.
This requires local officials to adopt a public-interest-driven view of political achievements during the project planning phase, using total factor productivity as a key criterion for preliminary evaluation.
Project implementation should no longer be treated as a one-time demonstration of political accomplishments, but as part of a systematic effort to build long-term regional competitiveness.
In determining whether a project should proceed, it is crucial not to overemphasize factors such as project costs or the scale of signing ceremonies. A careful evaluation of input-output efficiency is necessary, taking into account the economic returns per unit of land and avoiding large-scale land use with low yields.
The return cycle of capital investments must be analyzed to ensure that public and special-purpose bonds are not immobilized or wasted.
Human productivity per unit of output must also be assessed to promote labor efficiency. Resource consumption intensity, including raw materials and energy use, must be weighed to ensure adherence to environmental and resource sustainability constraints.
Such processes compel local officials to pursue scientific decision-making and pragmatic implementation, calculating economic and cost accounts accurately while improving the efficiency of all types of resources.
When evaluating project viability, it is also essential to look beyond immediate industrial revenue or tax contributions. The focus should also be on whether a project upholds ecological priorities, addresses the actual needs of the local population, and achieves synergy between economic benefits, environmental protection, and livelihood improvements.
Additionally, projects should create stable job opportunities, broaden channels of income for residents, and translate industrial development outcomes into tangible benefits for the populace.
Ultimately, the question of political achievements boils down to "for whom is performance delivered and what kind of performance is delivered". To firmly establish and practice a correct outlook on political achievements, it is imperative to commit to performance that serves the people, arises from diligent work, and withstands the scrutiny of the public, history, and objective principles.
In this critical opening year of the 15th Five-Year Plan, the real test for local governments lies not in achieving rapid but unsustainable progress, but in laying a solid foundation with enduring results that can stand the test of time.
The competition is not about who advances the fastest, but about who advances steadily and sustainably.
Source: China Daily
