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 Market Intelligence
US companies with an “in China, for China” strategy regularly work to improve responsiveness to consumer demands in an effort to remain competitive. The pace of change is faster in China than other global markets, and constant adaptation of strategy and products can be necessary.
China’s long-awaited urbanization plan indicates that the country’s leaders will focus on increasing access to social services, allowing greater labor mobility through residency permit reforms, and increasing the role of the market in real estate pricing.
Over the past four decades, China has seen the largest migration in human history. Since 1979, more than 300 million rural residents have moved into China’s cities, bringing the country’s urban population to 710 million. This has increased the proportion of China’s urban population from just 17.9 percent in 1978 to 52.6 percent today.