ETFs For China’s 15th Five-Year Plan

What is China's Five-Year Plan?

Every five years, China’s leaders get together to decide what they want to focus on in the context of the country’s development. The goals they decide upon are then laid out in a long policy document known as the Five-Year Plan (FYP). This plan is watched closely by Chinese citizens and businesses.

When will the next Five-Year Plan be released?

The 15^th FYP was approved at the National People’s Congress on March 12, 2026.¹ The final plan's full English translation will become available at the State Council's English language website in the coming months.

What impact does China’s Five-Year Plan have on investing in China?

A key component of our original thesis for the creation of KraneShares was investing alongside government policy. We have seen firsthand the power of the government’s economic and social roadmap, as businesses often completely reorient themselves every five years to the sectors highlighted in each FYP. Understanding what these plans entail is crucial for investing and doing business in China. The 15th FYP is a road map to the government's priorities for development all the way through 2030.

What should we expect from the 15^th Five-Year Plan?

Thanks to a draft released by the Central Committee in October, we already have a good idea of what to expect. You can access an English translation of the draft here.

The goals from the draft are as follows:

• Achieve high-level self-reliance in science and technology and lead the development of new productive forces.
• Build a strong domestic market and accelerate the construction of a new development pattern.
• Expand the nation's artificial intelligence (AI) ecosystem and enhance its governance.
• Promote healthy, rather than destructive, competition.
• Stimulate the economy through coordinated fiscal and monetary policy.

How is the 15th Five-Year Plan different from the 14th Five Year Plan?

Both the 15th and 14th FYPs emphasize technology development. However, the 14th FYP was more focused on renewable energy technologies, while the 15th FYP is more focused on information technologies such as AI. The 14th FYP included a commitment to reduce carbon intensity, measured by CO2 per unit of GDP, by 18% from 2020 levels.² While the 15th FYP includes a similar commitment of a further 17% reduction by 2030,³ goals for AI development and technological self-sufficiency may take precedence over emissions reduction.

Which ETFs are well-positioned to benefit from China’s 15^th Five Year Plan?

Among the KraneShares China ETFs, we believe the best-positioned to benefit from the release of the 15^th Five Year Plan are the following:

• KraneShares CSI China Internet ETF (Ticker: KWEB): We believe top holdings in KWEB, our China internet ETF, may play a key role in expanding China’s artificial intelligence ecosystem.
• KraneShares SSE STAR Market 50 Index ETF (Ticker: KSTR): We believe KSTR’s top holdings may support China’s self-reliance in science and technology.
• KraneShares MSCI China Clean Technology Index ETF (Ticker: KGRN): KGRN’s holdings may benefit from the 15^th FYP’s goal of fostering healthy competition and reducing carbon intensity; this may involve reducing overcapacity and improving margins in the solar panel industry.

We cover these topics and more in our 2026 China Outlook.

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The preceding discussion reflects current market views and assessments, which are subject to change without notice. Forward‑looking statements are inherently uncertain and may not be realized.

Holdings are subject to change.

For KWEB standard performance, top 10 holdings, risks, and other fund information, please click here.

For KSTR standard performance, top 10 holdings, risks, and other fund information, please click here.

For KGRN standard performance, top 10 holdings, risks, and other fund information, please click here.

Citations:

1. Hild, Arendse. "China's 15th Five-Year Plan: Key Insights for Foreign Investors," China Briefing. March 13, 2026.
2. Yi, Shi. "The 14th Five-Year Plan sends mixed message about China's near-term climate trajectory," Dialogue Earth. March 8, 2021.
3. Avinashi, Rudrath. "China is set to unveil its 15th Five-Year Plan – what's in it for climate?" Down To Earth. March 11, 2026.