Quick News Report: China
Obs. “Quick News China” is presented from our understanding of the information of the leading Chinese media. The business divisions are part of the Governance Model of China shown by us in Xiamen in 2017. The China-Brazil Center extracts some information from some matters that it deems essential for that month in the context of the Chinese government.
President Xi called for the construction of a mighty army with Chinese characteristics through the Chinese military holistic concept. The idea is that China may have by mid-century compatible military forces the largest on the planet.
“One Country, Two Systems”.
“One country, two systems” is the guarantee for the prosperity and stability of Hong Kong and Macao. In the meantime, it will be fundamental to support Hong Kong and Macao to integrate into the national development context, with priority in the Greater Guangdong-Hong Kong-Macao Bay Area, Cooperation between Guangdong, Hong Kong and Macao and the cooperation of the Rio Delta Region of the Pearls.
Financial system reforms
China has urged authorities across the country to establish online platforms to list people who do not meet their obligations to creditors. It will help development institutions and consumers identify good customers.
Reform in the energy matrix
China accelerates cut of overcapacity in coal. Over the past five years, 2,802 Chinese charcoal mills have been shut down, continuing to push for structural reform on the supply side. China is planning to reduce the proportion of coal consumption to less than 58% by 2020.
Reform in rural areas
China has issued guidelines on green development in agriculture, setting targets for resource conservation and environmental protection. The government plans to prevent over-exploitation of groundwater and improve irrigation efficiency. The cereal production capacity should be stabilized at 550 million tonnes or more by 2020, with the quality of agricultural products significantly enhanced. Despite this, there are significant structural problems such as high dependence on imports and intense foreign competition.
Reforms in regional planning
China begins resettlement preparatory work for Xiongan New Area, which will establish a new economic zone located 100 kilometers southwest of Beijing covering the Xiongxian, Rongcheng and Anxin districts of Hebei Province.
Concessions of humanitarian, social actions
President Xi said that more than 60 million Chinese had left the poverty line in the last five years. From 1977 to 2016 more than 700 million people were withdrawn from poverty. Indeed a feat that will marked in the history of humanity. In the coming years, evidently, the rest will also be removed according to the determinations and objectives of the “China Dream.”
China wants to deepen reform in the public hospital system. Those in 2016 provided 2.85 billion diagnoses and treatments, accounting for 87.2% of the cases seen by all hospitals in China.
Private health facilities and centers for the elderly and rehabilitation will also be encouraged to join partnerships to offer integrated services to the public.
China plans to build more vocational schools in needy areas as part of the fight against poverty. The new schools will offer professional training based on the local economy and social reality. Courses and materials will be set up to meet the market needs of each region and increase job opportunities for students.
Despite no reference to the goals of how GDP will develop, China will focus on the quality of its products and services. In this context, policies will insert on the development of innovation. For example, China’s R & D expenditure has grown by double digits, approaching the level of developed countries. Spending has increased 10.6 percent to $ 234 billion in 2016. However, China’s spending is still lagging behind the innovation-driven nations like Israel, South Korea, and Japan.
The “Made in China 2025” strategy, the Internet Plus Initiative and the industrial Internet will be vital for economic restructuring and the development of the digital economy. For example, a favorable environment for the industrial internet will be created, with optimized administration and fiscal support. Specifically, market access for products and services in this field will increase, while companies will be encouraged to raise funds through innovative capital and financial services.
Thanks to the information technology revolution and innovative business models, the cost of consumption is dropping, which helps to boost economic growth. In the first half of the year, final consumption contributed 63.4% of GDP growth and is likely to increase further in the future.
China will boost its economy through the significant participation of sustainable development. The Chinese economy is moving from the phase of rapid growth to a qualitative development phase.
Eleven cities will adopt limits for average levels of sulfur dioxide per hour of 800 micrograms per cubic meter. The authorities ordered the closure of highly polluting small businesses and reduced production in heavy industry. Low-quality coal burning has the ban in heavily polluting provinces and coal veto in part in six major cities.
External relations policy
Chinese and international companies should seize the opportunities offered by the Belt and Road Initiative, known as the Silk Road Economic Belt and the 21st Century Maritime Silk Road, to build a trade and infrastructure network connecting Asia with Europe and Africa along the old trade routes. More than 100 countries, regions and international organizations expressed support or participated in the initiative. It will undoubtedly be a significant structuring project with essential business opportunities.
The government also mandated that China continue its cooperation with UNESCO because it agrees to boost international cooperation in education, science and culture, promote mutual understanding and integration between different cultures and thereby achieve common development.