The Five-Year Plan is a series of economic and social development initiatives implemented by the Chinese government. It is designed to set goals and objectives for the country's growth and development over a five-year period. The current Five-Year Plan, which covers the period from 2016 to 2020, focuses on improving the country's economic structure, promoting innovation, and fostering the growth of the service sector.
It is difficult to say whether the current Five-Year Plan is insufficient, as it is still ongoing and its ultimate success or failure has yet to be determined. Some critics have argued that the plan places too much emphasis on traditional industries and does not adequately address the need for structural reforms, such as reducing overcapacity in heavy industries and promoting entrepreneurship and innovation. Additionally, the plan has been criticized for not adequately addressing the challenges posed by an aging population and declining labor force.