Allison Lapehn
Manager, Business Advisory Services
Beijing
Manager, Business Advisory Services
Beijing
Allison serves as a Business Advisory Services Manager in the Beijing office. Prior to joining the Council, she worked in policy and government affairs at AmCham China, covering the Chamber’s policy research and analysis, along with US government outreach. Allison also spent two years working in the private sector as a market entry and business development consultant for European SMEs interested in China.
Allison grew up in rural Ohio and has called Beijing home since 2017. Her interest in international politics was originally sparked by her participation in a State Department NSLI-Y exchange to Russia. While in college, she received a summer study grant to attend Renmin University’s summer program and began her study of Chinese language, politics, and culture.
Allison enjoys reading, writing, baking, and hiking with her two adopted dogs in the countryside. She holds a master’s in International Relations from Peking University and a BS in Industrial and Labor Relations from Cornell University.
On April 16, the National Bureau of Statistics (NBS) released first quarter economic data that paints a mixed picture for China’s 2024 economic growth. While the official NBS views the data as portraying good momentum for China’s economic rebound, many independent analysts noted that seasonal demand increases in January and February around the annual Chinese New Year holiday drove up the headline demand figures, and that March data on property investment, retail sales, and overall industrial output show signs of deceleration.
Chinese state planners have long recognized the imperative of transitioning toward a consumption-driven economy for long-term stability. But a deflationary domestic economy, low business and consumer confidence following COVID-19, geopolitical tensions, and supply chain disruptions have stifled spending.
On March 5, Premier Li Qiang opened the National People’s Congress by delivering the annual government work report. The report was released in concert with the National Development and Reform Commission’s (NDRC) annual draft Plan for Economic and Social Development as well as the Ministry of Finance’s (MOF) draft central and local government budgets, which include further details that complement the premier’s work report.
China’s 2023 GDP growth was above 5 percent, surpassing the official target. Given that China’s economic performance in 2022 was lackluster, China will require much stronger economic activity to maintain a similar growth rate. Policymakers continue to opt for limited fiscal stimulus and are instead looking to attract foreign investment to catalyze growth for the time being.
As 2024 begins, it is essential to understand how dynamics between the United States and China changed over the course of last year. At the start of 2023, China had only just begun unwinding its zero-COVID policies.