China's development paths in both the short and long term are taking shape, following the conclusion of the Fifth Plenary Session of the 19th Central Committee of the CPC on 29 October. This session unveiled the social and economic development targets for the 14th Five Year Plan, as the 13th FYP comes to an end this year. It also revealed a series of long-term goals that China expects to achieve in the next 15 years.
Amid a challenging global environment, and talk of U.S.-China decoupling, Beijing plans to move towards technological self-reliance and domestic consumption in a "dual circulation" strategic approach.
The economic development of Mainland China in the next decade is important to Hong Kong businesses as Beijing shifts the economic focus towards domestic consumption. Meanwhile, the political risk of the ongoing tensions between the U.S. and China is also a factor that cannot be ignored.
To better understand the key messages delivered in the Fifth Plenary Session, the Chamber has invited Joe Fang, Research Director at One Country Two Systems Research Institute, Tse Kwok Leung, Policy and Economic Adviser at Bank of China (Hong Kong), and Johnny Lau Yui-siu, a Political Commentator and China Affairs Analyst, to share their insights with members.