FleishmanHillard China has just released its report on the Two Sessions this year. We hope this report can help our readers, MNCs and international audience to have a more comprehensive understanding of the central government’s priorities and plans laid out at the country’s biggest annual political meetings.
Global economic recovery is confronted with a series of challenges including geopolitical uncertainties, such as tensions over the continuation of the Russia-Ukraine conflict. Coupled with the waves of the pandemic continuing to impact the world, including China, these issues cast shadows as the country doubles down on efforts to realize its economic and social goals laid out in the 14th Five-Year Plan.
On top of that, this year’s gathering takes on particular importance as it marks the end of term for the current leadership teams, paving the way for the 20th National Congress of the Communist Party of China (CPC). The National Congress, to be held in October or November 2022, will decide the next leadership teams of the CPC and China, and shape policy trajectory for the next five years and beyond.
Government Goals for 2022
Highlights of the Two Sessions 2022
Pointer of the year – Ensuring sustainable growth As stressed by Premier Li, this year’s government work will operate around ensuring stability, with an overall theme of promoting structural adjustment and reform, all as means to maintain sustainable growth.
►Emphasis on investment and consumption as key driving forces
►More flexible energy consumption goal
►Common Prosperity becomes a long-tern goal
►Continued determination to uphold “One Country, Two Systems”
“Stability” becomes the key in the face of surmounting challenges Without doubt, China’s economy is suffering from a complex external and domestic environment. Internationally, global economic recovery remains weak, and geopolitical tensions grow stronger. Domestically, the economy is facing “triple pressure” from shrinking demand, supply shocks and weakening expectations. Under this backdrop, stability has taken the spotlight of this year’s Government Work Report.
►Ensuring market, economic and employment “stability”
►Safeguarding “stability” of production and livelihoods
Improving the business environment and boosting market dynamism With steadfast progress on deepening its reform and opening up, China will take steps to improve the business environment, creating a stronger foundation for both domestic and foreign enterprises to grow in China, with an aim to strengthen market vitality and domestic momentum.
►Further opening-up for promoting foreign trade and investment
►Preferential policies for domestic enterprises
►Stronger incentives to encourage innovation
Ensuring and improving the people’s well-being The 14th Five-Year Plan has put “improving people’s well-being” in a more significant position. This year’s Two Sessions once again stressed the importance of this, covering key topics with a focus on employment.
►Strengthening the employment-first policy
►Promoting all-around rural revitalization
►Making improvements to people’s lives