All articles tagged with #state council
China's annual parliamentary meetings ended without the premier hosting a press conference, breaking decades of tradition, and President Xi Jinping did not speak at the closing ceremony. The government pledged to lower energy consumption and set a 2024 growth target of around 5%, with a focus on industrial support. The State Council underwent structural changes, increasing oversight by the Chinese Communist Party.
China has unveiled a plan for a "silver economy" to cater to its rapidly-aging population, aiming to mobilize state and private sector companies to provide tailored consumer products and services for older people, including meal delivery, nursing homes, and entertainment options. The plan also emphasizes the use of smart devices and virtual reality to address labor shortages and improve the quality of elder care.
China's State Council has issued guidelines aimed at improving the country's foreign investment environment and attracting more foreign investment. The guidelines include measures to protect the rights and interests of foreign investors, strengthen enforcement of intellectual property rights, provide fiscal support and tax incentives for foreign-invested enterprises, and explore a secure management mechanism for cross-border data flows. Despite these efforts, China has struggled to attract foreign enterprises and investors due to concerns over political risk and deteriorating relations with Western countries.
China's State Council has issued measures to boost consumption in sectors such as automobiles, real estate, and services, recognizing the crucial role of consumption in economic development. The government plans to improve charging infrastructure for new energy vehicles, expand affordable rental housing to support housing demand, and encourage tourism by reducing or eliminating admission fees at scenic areas during low periods. These measures come as policymakers aim to stimulate domestic demand and support the post-COVID economic recovery.
The Chinese Communist Party is establishing new commissions to oversee finance and tech, with a new "Central Financial Commission" set to strengthen the party's "centralized and unified leadership over financial work." The changes come as Chinese President Xi Jinping sees unity under the party as essential for building up the country. The new commissions are part of the party's central committee, which has about 200 members, and are set to take effect at a national level by the end of this year.