On November 15, China’s National Development and Reform Commission (NDRC) released the Guiding Opinion to Deeply Integrate Advanced Manufacturing and Modern Service Industries, outlining a plan for updating China’s manufacturing capabilities by 2025.
China Market Intelligence
At last year’s National People’s Congress (NPC), China launched a massive government restructuring to streamline policymaking and enforcement. Throughout the months-long reorganization process, the government continued to move ahead with policy reforms in some areas, while other regulations on the NPC 2018 work plan were not addressed.
China’s SOE reforms aim to strengthen the companies by reducing overcapacity and mitigating high levels of debt
While US-China trade tensions are front of mind for many executives in Beijing, attendees of the US-China Business Council’s (USCBC) Beijing China Operations Conference last week indicated that other operational issues continue in the background.
China’s legislature began its annual meeting today with the delivery of the Premier’s Government Work Report, which set an economic growth target of “around 6.5 percent” for the year. The National People’s Congress (NPC) is slated to discuss a variety of policy changes over the course of the next two weeks. Premier Li rehashed a series of previously promised market entry liberalizations.
China’s senior Communist Party leaders will start the year approving a slate of nominations for high-level government positions, including the head of the legislature, the vice president and vice premiers. The candidates will then be confirmed in March, when China’s top legislative body meets.
The US-China Business Council (USCBC)’s updated report on compliance best practices finds that the anti-corruption campaign has resulted in an improved business environments for American companies operating in China.
China’s top leadership closed its annual economic planning meeting with a number of signals as to how the China business environment may evolve in the next twelve months, but maintained the general call to expand market access for foreign companies while also strengthening the state sector.