China has 5 year plans. However the 5 year plans are different than, say, the Soviet Union. In the USSR the plan gave exact quotas for what companies should produce, at what cost, at what price do they sell it, etc. In China the economy follows market principles. So the plan doesnt specify all of that, it just lays out the objectives the companies and economy must achieve. All companies, including private companies, must follow the plan. The only exception is private companies in the Special Administrative Zones (Hong Kong and Macao) and the Special Economic Zones. There its less regulated so they dont have to follow the plan. But in the rest of China they do.
China has 5 year plans. However the 5 year plans are different than, say, the Soviet Union. In the USSR the plan gave exact quotas for what companies should produce, at what cost, at what price do they sell it, etc. In China the economy follows market principles. So the plan doesnt specify all of that, it just lays out the objectives the companies and economy must achieve. All companies, including private companies, must follow the plan. The only exception is private companies in the Special Administrative Zones (Hong Kong and Macao) and the Special Economic Zones. There its less regulated so they dont have to follow the plan. But in the rest of China they do.