EARLIER THIS MONTH, CHINA’S LEADERSHIP PUBLISHED ITS PROPOSAL FOR THE 14TH FIVE YEAR PLAN, WHICH WILL SERVE AS A BLUEPRINT AND SCORECARD FOR ECONOMIC POLICY IN THE COMING 5 YEARS. AS EXPECTED, TECHNOLOGICAL SELF-RELIANCE AND THE NEW DUAL CIRCULATION STRATEGY ARE TOP OF THE AGENDA. FURTHER OPENING UP AND THE LIBERALISATION OF CHINA’S SERVICE SECTOR REMAIN IMPORTANT GOALS. CBBC’S TORSTEN WELLER GIVES HIS ANALYSIS
Unusually, the proposal does not include specific economic growth targets. However, it does provide more details about the Chinese leadership’s principal areas of concern over the economy’s future path.
The key takeaway: The proposal confirms our initial assessment that the government’s Dual Circulation Strategy – that is the strengthening of China’s own consumer market paired with the technological upgrading of its manufacturing sector – will be central to the 14th Five Year Plan (FYP)...read here
