Sandpiper’s Post

The 20th Central Committee of the Communist Party of China (CPC) started its third plenary session in Beijing on Monday morning, where top Party officials will set the direction for China's further comprehensively deepening reform that will carry significant importance for China's economic and social development for years to come. #CPC, #CommunistPartyofChina, #China,

Following the release of the communique of China’s Third Plenum, Tianchen Xu, Senior Economist, China, EIU shares further insights and what this means for China’s economic and political landscape. The communique is just a general summary of the meeting, and reform details are likely to be disclosed several days later in a separate document (possibly over the weekend). That said, the outcome is in line with our expectations that the Third Plenum is a continuation of existing policy tweaks - there's nothing hinting at China heading towards a different policy direction. I would highlight "innovation and managed markets" as the top two keywords in the Third Plenum. Innovation and productivity enhancements top all priorities, almost unexpectedly, amid the grand backdrop of US-China rivalry. There will be a "Chinese approach" to this - not through market-oriented reforms, but through KPI settings around innovation or mandatory adoption of domestic technologies. Although the communique talked a lot about markets, the language doesn't deviate very much from the 2013 reform (at the 18th Third Plenum). Therefore, we think any market-oriented reform will be measured and carried out insofar as it doesn't compromise national security. We still hold high expectations for fiscal reform, although the communique was very brief about that topic. #eiu #china

The sudden cancellation of the Premier’s press conference, the passing of revisions to the Organic Law of the State Council, the focus on unleashing of ‘new productive forces’, Foreign Minister Wang Yi’s remarks on key conflicts and current relations between great powers, renewed commitments to boost consumption, discussions between indebted provinces and banks, the pledge to increase military spending by more than seven per cent… These are only some of the highlights of the recently concluded meetings of #China's National People’s Congress and the Chinese People’s Political Consultative Conference – also known as #TwoSessions. To make sense of this host of announcements and what they mean for China’s economy, #foreignpolicy and political trajectory, our next #PolicyMeeting will take place on Tuesday 19 March from 9:00 to 10:30 AM in #Beijing, with Dan Wang, Chief Economist at Hang Seng Bank and, joining us online, Neil Thomas, Fellow on Chinese Politics at Asia Society Policy Institute’s Center for China Analysis. This meeting is open open to consortium partners’ management and relevant stakeholders of EU SME Centre Phase IV including European embassies, consulates, #EU-funded projects and secretariat/board members from European chambers or business associations only. Read more and register: https://lnkd.in/dNNg2iFX 🗓 19 March 2024 📍 Four Seasons Hotel Beijing 🕘 9:00–10:30 AM [Stakeholders only]

The annual political gathering known as the two sessions has commenced in China, with a focus on the development of new productive forces and sustainable economic growth. Economic and social development targets, as well as measures to enhance people's livelihoods, are expected to be unveiled. This year's two sessions will also outline a new roadmap for China's future trajectory as it marks the 75th anniversary of the founding of the People's Republic of China. #AsiaOperations #PoliticsandElections #China Follow us for daily updates on risk and operations in Asia! https://lnkd.in/g9bbjgyb

In the wake of the Third Plenum of the Chinese Communist Party 20th Central Committee, "Multinational firms will closely watch how China navigates the balance between self-sufficiency and openness. Any perceived tilt towards a tougher environment for non-state businesses could deter investment. Conversely, positive signals encouraging private capital and entrepreneurship, as well as attracting foreign investment into China, could bolster confidence," writes UTS:ACRI Associate Professor - Research Marina Zhang in the East Asia Forum. She states that "Though understated in tone, the Third Plenum communique is a pragmatic policy blueprint that sets course away from the ‘left’ end of the Chinese political spectrum." Read: https://bit.ly/3M7t4TH

In PRC's history there have been some highly influential third plenary sessions (third plenums) of the Central Committee of the Communist Party of China. The one held in 1978 has been one of the most impactful which saw China take intial step towards economic reform and opening. All the third plenums that have taken place since have been focused on reforms and that is why the upcoming third plenum of the 20th Central Committee of CPC has been highly anticipated. Observers are watching to see if major reform measures will be unveiled given the confluence of challenges China faces at the moment. In this article that I co-authored with my colleague Zhaohong Liu we looked at what is the third plenum, its historical significance, reform agenda under President Xi, and potential agenda this time around. https://lnkd.in/gh2ui24z

Stay updated with the latest in Asia with today's edition of Asia Daily! From groundbreaking legislative changes in Thailand to strategic economic moves by China, significant electoral disputes in Indonesia, and diplomatic engagements across Southeast Asia, we're covering the pivotal developments shaping the region. Dive into these stories and more to grasp the dynamic shifts in politics, economy, and society across Asia: https://lnkd.in/dTvg_bm3

Nathaniel Sher and I analyzed the upcoming and "long-awaiting" Third Plenum in China next week on The Diplomat. https://lnkd.in/gvqt-KJ2 (no paywall) Key takeaways and BLUF below 👇 BLUF: "Of course, the goals of Party centrality, national security, and technological self-sufficiency will remain the bottom lines of Xi’s governance. Without efforts to revive market confidence, however, Beijing’s broader reform agenda could falter." 📌 Five Key Takeaways: 1. Economic Headwind: China’s economy faces substantial challenges, including a property downturn, weak consumer sentiment, and distressed local government finances.  2. Low Expectation of Third Plenum: Many leading observers concludes continued focus on Party centralization, national security, and technology-led development. But we should not overlook some of the signals and moderate measures China has rolled out to address some of its economic headwinds.  3. Overlooking signals: While close watchers are right to set the expectation low. Signals from China, including ones from Xi, party-led journals, State Council should not be overlooked. Beijing gradually shifted its rhetoric toward the real estate market, capital markets, the private sector, and foreign investment, the government also introduced modest stimulus measures. On this basis, further efforts to stabilize market expectations 4. Unresolved Property Sector Crisis: Although China has come up with several measures, including the May "rescue package" to address the property crisis, the market has not yet been revived. Without further measures, it is unlikely the property market will rebound, potentially hindering its other reform agenda. 5. Confidence is Key: While the goals of Party centrality, national security, and technological self-sufficiency will remain the bottom lines of Xi’s governance, Beijing's broader reform agenda could face serious difficulties moving forward without serious efforts to revive market confidence, including investment, property and consumption. *The views expressed in this article are strictly those of the authors Shout out to exceptional editor Catherine J. Putz at The Diplomat for making this timely piece out ahead of the pivotal political event in 2nd largest economy. #china #uschinarelations #economy #fiscal #finance #investment #security #technology #realestate #property #thirdplenum #party

The 20th Central Committee of the Communist Party of China (CPC) convened its third plenary session in Beijing from 15 to 18 July 2024, during which the CPC Central Committee considered and adopted the Resolution of the Central Committee of the Communist Party of China on Further Deepening Reform Comprehensively to Advance Chinese Modernization (hereinafter ‘the Resolution’). According to the Resolution, the central leadership of the CPC unveiled a master plan to deepen China’s reform and modernize the country, while also detailing major reform directions and more than 300 reform initiatives in various fields and aspects. It is worth noting that the third plenary session this year has not only outlined the reform priorities for the long term, but also committed to meeting short-term economic targets, which is uncommon. Another point to note is that this year’s Resolution has devoted noticeably more coverage to Hong Kong and the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). More insights at: https://lnkd.in/gD_UXWAh

【China Insights】August 26 – August 30, 2024 - China’s fiscal revenue falls in July as economic slowdown and property slump bite - China promotes green finance along Yangtze River Economic Belt - EU and China launch mechanism to facilitate industrial data flows - China issues white paper on energy transition - Xi demands all-out efforts to carry out reform tasks SwedCham Insights is provided by Kreab Beijing Click here to read more: https://lnkd.in/dbdMCg4n #ChinaInsights #EconomicUpdate #GreenFinance #EnergyTransition #ChinaEconomy #IndustrialData #ChinaReforms #SwedChamChina #BusinessTrends #KreabBeijing #SwedChamInsights #ChinaStrategy #AsiaBusiness #Sustainability #GlobalEconomy