However, the policy change means that only 35% of the population will live in the countryside and, by implication, an even smaller percentage will be involved in agriculture. This smaller percentage of the population would be responsible for growing the food required by 65% of the population.
The China market is closed for the Spring Festival holidays so we continue to explore the elements of the country’s 14th Five-Year Plan and how this impacts business and future business opportunities. The most recent Five-Year Plan covered eight areas and this week we consider two more of these.
The fourth element of the Five-Year Plan is to raise urban residents to 65% of the population. The first thought is that urban residents will have access to better-paying jobs that lead to an expansion of disposable income which is good for a wide range of consumer goods and services. That is certainly true but it offers businesses no more than a continuation of existing opportunity paths in China.
