Sichuan remains an attractive growth market for foreign companies, according to local government officials. On September 1, the US-China Business Council led a delegation of member company senior executives from a variety of sectors to meet with Sichuan Party Secretary Wang Dongming to discuss the Sichuan commercial operating environment and explore how the province will be involved in the implementation of central development policies.
Recent statements from key Chinese leaders have reaffirmed that infrastructure and property development will remain important long-term drivers of economic growth as China enters a “new normal” of moderating economic growth.
Chinese leaders pledged to continue structural reforms and regional economic development in light of slowing GDP growth at last week’s Central Economic Work Conference (CEWC), held in Beijing. The conference, considered to be the last major meeting of the year for the Chinese government, reviewed China’s economic performance in 2014 and set the country’s economic agenda for the year to come.
In the face of slowing growth and what policymakers are calling a “new normal” for China’s economy, central planners have stepped up the pace of long-discussed financial liberalizations, from the opening of free trade zones and the Shanghai-Hong Kong Stock Connect to—most recently—the proposed establishment of a deposit insurance system.