At the recent Fifth Plenum China’s leadership rolled out its proposal for the 13th Five-Year Plan (FYP), the only such plan that will be fully implemented under President Xi Jinping’s term. John Russell, Managing Director of North Head, provides analysis of this important meeting in Balancing Reform and Growth: China’s 13th Five Year Plan – the lead article in the latest edition of EURObiz, the European Chamber of Commerce’s bimonthly journal.
China’s pace of reform will be tempered to allow growth and guarantee stability. However, policy directions mapped out for the 13th Five Year Plan are generally positive for European companies. Gradual market liberalisation and increased emphasis on innovation and sustainability will create opportunities for foreign firms. Challenges will come in the form of more intense competition from domestic firms and increasing regulatory risk as government agencies reorient themselves towards market supervision.
The article can be found at the EURObiz website here.