[Image courtesy of www.neec.no]
Businesses seeking to understand the policy drivers that will influence China's next five years of economic development should read the latest analysis of its 12th 5 Year Plan.
China's Five-Year Plans (FYP) are blueprints which provide overall objectives for the economic and social development of the country in five-year cycles.
The 12th FYP (2011-2015) will be submitted for approval to the National People's Congress in March next year.
Several highlights of CBI member APCO's report include:
• 12th FYP will focus on "inclusive growth" as a guiding principle, which means ensuring that the benefits of economic growth are enjoyed by a larger proportion of the Chinese population.
• Health care, energy and technology are three sectors that will receive strong support under the 12th FYP.
• Foreign companies will face a changed cost structure during the upcoming five-year period as increased costs could result from minimum wage hikes, environment-related taxes, price reform of raw materials, etc.
Please read the full report below:
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