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Apr 23, 2021

The Year 2020 was the final year of China’s 13th Five-Year Plan, and a new chapter in the Chinese economy begins as the 14th Five-Year Plan has commenced (2021-2025). These Five-Year Plans are a series of economic and social development guidelines issued by the Chinese government, with the goal of setting new growth targets, mapping an economic strategy and launching reforms.

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The focuses of the 14th plan, outlined in the midst of the COVID-19 crisis and the rising tensions between the American and Chinese governments, are mainly economic opening up, improved business environment, innovation driven development and ecological environment.

To foreign investors and entrepreneurs, the high-level opening up and an improved business environment will bring strategic opportunities in the years ahead. The opening up aspect provides a strong guarantee by means of law governance, as the Foreign Investment Law came into force as of January 2020.

In terms of business environment, China is headed towards a market-oriented economy, with the aim of decentralization of administration and institutions strengthen regulation and optimize service reform.  Most importantly, China will deepen and promote competition neutrality, treating domestic and foreign funded enterprises equally in terms of market access and funding. This direction was too fortified in to law, with the Regulations on Optimizing Business Environment, passed in January 2020.

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The Free Trade Zones and Free Trade Ports provide an experience to the further-modernized Chinese economy, characterized by favorable conditions for investment and trade. Theses free trade zones are expected to serve as a model to be promoted and replicated to the rest of China.

Ecat Venture team