Dear CBI Members and Partners,
Please find a September Summary of the latest China policy from the China Policy team based in Beijing.
Download Download China Policy Summary Sept 2022
Our grateful thanks to CP for kindly sharing these insights. More information and information can be found at China Policy.
Dear Members and partners,
Please find information relating to CBI member KPMG's recent China Outlook 2018 Report below.
The interactive dialogue covered future investment opportunities in China and with China (including across the Belt and Road Initiative (BRI)) alongside expert analysis of the economic transformation and industrial upgrading during the period of China’s 13th Five-Year Plan and beyond.
All of which can be studied in detail within the China Outlook 2018 report, with a summary of the key messages available on KPMG's website.
With our thanks to CBI member KPMG for sharing this important report.
Xi Jinping emerged from the 19th Party Congress with a mandate to push China into a ‘new era’. To support this agenda, the Party has proposed a scheme to retool the machinery of government.
Passed at the NPC 17 March, it is the most ambitious restructuring in decades, creating seven new ministries and adjusting the structure of nearly every national agency.
It will change how government works with the Party, the market and the outside world. It could deliver streamlined governance, but risks enormous growing pains as the system copes with a disruptive change. This report explains each of the 26 changes to state structure included in the reform document: what’s changing, why and what to expect.
Liu He 刘鹤 Politburo member describes the plan as a ‘revolutionary’ reform that will touch every part of the state. It attempts to overcome endemic problems of policy implementation by creating cradle-to-grave accountability for policy goals, entrusting new, specialised ministries with singular missions.
Leaders have warned for years that ‘vested interests’ and inefficiency pose an existential threat to the Party-state. The roots of these problems were planted in the Mao era: ministries were created to meet production targets in ‘sectors’ 行业 of a planned economy.
But the biggest worry is no longer production, and those sectors are a bad fit for contemporary policy.
Former finance minister Lou Jiwei 楼继伟 joked ‘frogs in the river are governed by the Ministry of Agriculture (MoA); frogs on the shore are governed by the State Forestry Administration’.
As it attempts to pivot toward meeting what Xi calls the ‘ever-growing needs of the Chinese people’, the Party needs a government fit to regulate a demand-driven economy. The new integrated system addresses the question of oversight and accountability and designs new, purpose-built agencies.
China Direct would like to thank China Policy for sharing this wide-ranging Report with our readers.
For more information please contact: Ekaterina Kuroedova: ekaterina.kuroedova@policycn.com
Dear CBI members and partners,
Please find attached a useful summary of China's National People's Congress which concluded earlier this week.
Our grateful thanks to China Politics Weekly for sharing this issue.
(CNPC image above courtesy of www.scmp.com)
In a podcast with Paul Haenle, Director of the Carnegie-Tsinghua Centre for Global Policy, Joerg Wuttke, President of the E.U. Chamber of Commerce in China, discusses what he thinks the E.U. can expect in the coming years regarding its economic presence in China.
Mr. Wuttke notes that the main story in E.U.-China relations in 2015 was not simply an increase in trade but rather a complete shift in investment flows as China invested US$22 billion in the E.U. He expects this level of Chinese investment into Europe to continue, but he reasons that European investment in China may slow due to lower growth rates and other constraints.
Mr. Wuttke also comments on emerging international initiatives that China has put forward, such as the Asia Infrastructure Investment Bank (AIIB) and the Belt and Road.
Please read more here.
CBI member PwC recently forecasted that China will become the world’s largest retail market by 2018, when it will be worth US$10.3 trillion.
On 09-12 November 2013, the Third Plenary Session of the Chinese Communist Party's 18th Central Committee, commonly referred to as the Third Plenum, met in Beijing to discuss the long-term goals of the new Chinese leadership.
The Third Plenum released a communiqué outlining a series of pledges on planned reforms, including:
• The "decisive" role of the market in the allocation of resources was highlighted in the document.
China will relax investment restrictions, accelerate the construction of free trade zones, and further
open up both coastal and inland regions.
Other plans include requiring state-owned enterprises to pay larger dividends to the government and allowing private-owned companies to play a bigger role in the economy. In addition, China will push forward the liberalisation of its interest rates and the free convertibility of the Renminbi (RMB).
• China will accelerate the development of a new agricultural management system and give farmers
stronger property rights.
• China will establish a comprehensive system designed to protect the country's ecological
environment, including improvements in land development, resource conservation, and
environmental protection.
• China will improve its judicial system and "ensure independence and fairness in courts and
prosecuting bodies".
• China will create a national security council that will deal with both domestic and international
security challenges.
Dear CBI Members,
China Direct is back after a busy week supporting the visit of the CBI's President, Sir Roger Carr, to China.
For member companies based in the UK and interested in learning more about the China market China Direct is delighted to announce that new member Taylor Wessing LLP will be holding a Seminar and Drinks Reception on Tuesday 27th November at their offices on New Street Square, London.
"Taylor Wessing will be hosting a seminar looking at the opportunities and issues foreign companies face when entering and conducting business in China.
The event will include both a seminar covering key topics affecting companies in this region, including an update on the current economic and legislative trend, followed by a drinks reception. "
For more information please visit:
http://www.taylorwessing.com/events/details/china-seminar-and-drinks-reception-2012-11-27.html
To register directly kindly contact: [email protected]
[Image courtesy of www.apcoworldwide.com/china]
China Direct would like to thank CBI member APCO for kindly providing the following analysis of the recently convened annual National People's Congress in Beijing.
For more information and analysis please download below.
Thank you.
[Image courtesy of www.cbi.org.uk]
CBI Director General John Cridland CBE was interviewed by the Global Times during his recent visit to China.
Despite the challenging economic environment there are huge opportunities for UK business to increase its trade with China.
John Cridland shares his thoughts on UK business in China, opportunities for Chinese Foreign Direct Investment (FDI) to the UK and highlights the outstanding success of CBI members Intercontinental Hotels Group and Jaguar Land Rover in China.
Please click here for the interview, published today in the Global Times newspaper.
