China’s Third Plenum: Political Control Drives Economic Reforms

Quick Summary:

Experts estimate that further reforms in the household registration system by allowing migrant workers greater access to education, health, and welfare would increase consumer spending and accelerate urbanization.

Xi stated that “international competition” is heating up and that China must control “core technologies.” Persistent tensions between China and the West will continue to create uncertainties for foreign businesses in China, especially in sensitive sectors.

Prior to the Plenum, some China watchers speculated that Beijing might reprioritize economic development, given China’s uneven post-COVID recovery.

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Article Details

Author / Journalist: Mercy A. Kuo

Category: Economy

Markets: United StatesBangladeshChinaHong KongJapanMyanmarUzbekistanVietnam

Topics: Government Spending China Policy Plenum Reforms Consumer Third China’s Beijing Economic

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-29 @ 23:47:00 (5 days ago)

News Timezone: GMT +8:00

News Source URL: thediplomat.com

Language: English

Article Length: 2424 words

Reading Time: 14 minutes read

Sentences: 118 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Diplomat

News ID: 21906277

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