By Zhou Zhou, Account Director, Sandpiper China. Zhou Zhou has extensive experience in the healthcare and investment industries. Zhou and his team at Sandpiper China have counselled many of the world’s largest healthcare businesses and major international industry associations, including eight of the world’s top ten pharmaceutical companies.
China’s 2022 “Two Sessions” meetings commenced on March 4 with the start of the Fifth Session of the Thirteenth National Committee of the Chinese People’s Political Consultative Conference followed by the Fifth Session of the Thirteenth National People’s Congress on March 5. As China’s most important annual national meeting, the “Two Sessions” reveal major guiding plans for the country’s economic and social development, as well as formulate national fiscal, financial, and livelihood-related policy comprehensively and systematically —all of great significance to the national economy.
China’s “Two Sessions” are windows for the world to observe China’s development and policy trends. In recent years, as China has continued to act as the engine of the global economy, the world is now paying close attention to the “Two Sessions” in order to learn more about China’s priorities and development plans, as well as to judge the direction of China’s economic policy in the coming year.
Important arrangements and matters during the “Two Sessions” include the Government Work Report, the Prime Minister’s Q&A session, and the detailed plans proposed by ministries and departments such as the National Development and Reform Commission (NDRC), the Ministry of Finance (MoF), the State-owned Assets Supervision and Administration Commission (SASAC), the Central Bank, the China Securities Regulatory Commission (CSRC), etc., on policy reform directions in corresponding fields during the “Two Sessions”. We believe the following areas deserve attention:
According to data from ThePaper.cn, a week before the opening of the “Two Sessions”, the search popularity of the “Two Sessions” increased by 97 percent. Among these searches, top topics included social security, rural revitalization, education, ecological environmental protection, digital economy, technological innovation, and attention to public health. The “three-child policy” package is the hottest social security topic, followed by medical insurance and pension services. Among the hot ecological civilization topics, the public has been most concerned about the impact of the “dual-carbon goals“.
We believe that the “Two Sessions” has released a clear signal of “steady growth”. In the near future, a series of measures to stabilize the economy in terms of the demand to supply ratio, investment and consumption, “new infrastructure”, foreign trade, the industrial economy, the service industry, and people’s livelihoods, environmental protection, etc. The accelerated implementation of measures in these fields will give a boost to economic growth.
In the future, we believe that the following areas are worth anticipating:
Tasks formulated in the “Two Sessions” can create major new opportunities and change the course of markets, however, it can be complex to parse through the vast swathes of new legislation and understand the impact on a given sector.
The Sandpiper Public Affairs Team has significant experience in “Two Sessions” policy tracking and analysis. The team has executed in-depth policy research in many fields covering national policies such as recent efforts to expand domestic demand, as well as industrial policies pertaining to advanced biomedical manufacturing and new energy technologies.
Sandpiper can be your resource for tracking the trends, events, and outcomes of the “Two Sessions”, providing in-depth insights, analysis, and customized intelligence tailored to your business sector and company.
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