The second is reforms that break down the barriers to market competition and help build a market-based system. These are key reforms that impact land, labour, capital, technology and the emerging data. The last two areas offer many opportunities to develop new business and investment. The results of the reforms in these areas will also impact the way all businesses interact with China, so it is important to follow these developments carefully.
Hard-nosed economic pragmatist, Chinese Premier Li Keqiang, will retire later this year. As head of the powerful National Development and Reform Commission, he has played a leading role in shaping the modern Chinese economy. He leaves a legacy of five ongoing priorities for 2022. They will shape the business environment for the next 12 months.
The first of these is reforms that stimulate the market participants and companies. They are part of the three years of state-owned enterprise reforms designed to enhance the allocation of SOEs’ resources and deliver structural adjustment in the national economy. This is in parallel with private corporate reforms. The objective is to achieve high-quality growth by supporting world-class companies through entrepreneurship.
