Opportunity analysis for Chinese and foreign business

Opportunity analysis for Chinese and foreign business

The 13th Five-Year Plan - China’s economic transition and integration with the world economy

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Opportunity analysis for Chinese and foreign business

In March 2016, the Fourth Session of the 12th National People’s Congress adopted the Outline of the 13th Five- Year Plan for National Economic and Social Development (“the Outline”). The Outline lays out five tenets of development for the 13th FYP period: innovation, coordination, ‘green’ development, openness and inclusiveness. The core goal is to improve the quality and efficiency of China’s development, and the main line of approach lies in supply-side structural reform. The Outline further explains the goals, thinking and tasks previously described in the Proposal, and articulates specific policies, initiatives and programmes to address development issues such as innovation, industry, regional coordination, environment, society, openness and reform.

Based on the Outline, KPMG’s Global China Practice (GCP) provides an in-depth analysis regarding the opportunities for foreign direct investment (FDI) and outward direct investment (ODI) in the course of China’s development. The report concluded that the 13th FYP period has the potential to be a golden age of both inbound and outbound activity, as China moves towards establishing an innovative economic structure, intensive (as opposed to expansive) industry, coordinated regional systems, green development, an inclusive society, mature economic institutions, and an open economic landscape. Inbound and outbound investors will benefit from a more open and accommodating business climate, and should identify and act on the opportunities that emerge in the course of China’s transition and integration with the world economy. These investors can share in the dividend generated by China’s growth, while making their own contribution to the economy’s transition.

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