Outcomes & Interpretation of the 19th CPC National Congress

Published on 2017-11-01

On 27 October at KPMG Hub, British Chamber Shanghai held a half-day seminar on the outcomes of the 19th CPC (Communist Party of China) National Congress. The seminar commenced with two keynote speeches and then followed with a panel discussion.

CPC event speakers 

Keynote speakers include Tracy Yang,Audit Partner at KPMG China, who is also one of the representatives of the National Congress; and Carly Ramsey, Associate Director at Control Risks. Panelists included Joe Zhou, Regional Director & Head of Research at JLL China, Mark Harrison, Partner of Deal Advisory at KPMG, and Ted Wan, President of Greater China at Smiths Group. The panel discussion was moderated by Phil Roebuck, Executive Director of the British Chamber Shanghai.

Key topics shared and discussed at the seminar include:

  • China's policy of foreign investment utilisation will remain unchanged: China will also keep unchanged its protection of foreign-funded companies' lawful rights and interests as well as its commitment to providing better services for the investment and operations of companies from all nations; Shanghai announced the new ’16 regulations’ to encourage foreign-invested R&D centers;
  • Shanghai continues implementing two national strategies: to push for the development of Free Trade Zone reform and explore the establishment of Free Trade Harbour; in a bid to turn Shanghai into a science and innovation centre;
  • The construction of China’s four major economic areas: One Belt One Road area, Xiong’An New Area, Yangtze River economic zone (esp.  Hangzhou Bay), and Guangdong-Hong Kong-Macao Greater Bay Area;
  • Xi Jinping’s ‘New Era’ and the implications of ‘Xi Thought’ being written into the Party’s Constitution;
  • The evolved principal contradiction means the government will focus its attention on issues that matter to the people – including the environment, healthcare, elderly services, and more;
  • Regulatory enforcement will keep increasing, especially on environment protection and cybersecurity
  • Current housing policy will stay long and tight and SOEs are leading the development of rental housing;
  • Two main challenges for MNCs operating in China: How well we understand the China rules, and how well we communicate with the HQ to help them understand how China works

Other topics included Made in China 2025, sustainable development, IP regulations, SOE’s outbound investment on infrastructure projects and more.