International Macroeconomic Policy Coordination during the 14th Five-Year Plan Period

International macroeconomic policy coordination contrib­uted more to maintaining financial stability and sustaining the global economy development during the 2008 financial crisis.However,spillovers from relief policies amplified after the crisis receded,accentuating the need to strengthen policy coordination.Now,the world is facing the COVID-19 pan­demic.Given these circumstances,China is urging the global community to strengthen macroeconomic policy coordina­tion and hedge risks to prevent the world economy from fall­ing into a recession.China faces a challenging external envi­ronment in the 14th Five-Year Plan period(2021-2025)and,thus,will globalize further and improve its macroeconomic governance through policy coordination.China’s plans for doing so are an important topic.