Jianglai Consulting estimates China's economic policy is likely to be continuous

BEIJING, Oct. 25, 2022 /PRNewswire/ -- Jianglai Consulting is a business consulting boutique based in Beijing. It delivers global investors contextual insights on China's economic development. Jianglai estimates that China's economic policy is likely to be continuous according to its close observation of the recent activities associated with the China-Shanghai Cooperation Organization and official statements during the 20^th CPC National Congress.

On October 18, the China-Shanghai Cooperation Organization Local Economic and Trade Cooperation Demonstration Zone in Qingdao, Shandong province and Shandong Province, released 20 cases of institutional innovation, involving logistics and transportation, trade development, production capacity cooperation, transformation of scientific and technological achievements, free flow of personnel, and convenient financial supply. The Shanghai Cooperation Organization (SCO) Demonstration Zone has opened 27 international and domestic freight trains, reaching 51 cities in 22 countries and regions, totaling more than 2,000 trains.

The SCO Demonstration Zone established an industrial park dedicated to cross-border e-commerce enterprises in June 2020, and now more than 200 companies have been settled. Some businesses are from Yiwu, Zhejiang province. In the past, their goods had to be shipped, taking 55 to 60 days to arrive at Russian overseas warehouses; after moving to the demonstration zones, it saves 45 days for the goods to arrive Europe, and greatly reduces the cost. In 2021, Qingdao held more than 200 economic and trade activities to help local enterprises carry out cross-border trade. Chinese officials have been sending positive signals to the market.

Plans for a dual-circulation economy requiring more domestic production and consumption doesn't mean the country wants to scale back from globalization, Zhao Chenxin, deputy director of the National Development and Reform Commission, said at a press conference during the convening of the CPC 20th National Congress. That means China will continue to open up to the global economy, even as it focuses on more high-quality growth and fostering domestic demand.

To the question, whether China's economic policy will change, some analysts believe that China's economic policy after the 20th National Congress is expected to continue to open up to the outside world and increase exchanges with important international partners in trade. The economic policy after the 20th National Congress is likely to be more continuous rather than changeable. International cooperation in the areas of green energy and traditional manufacturing is estimated to be enhanced.

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SOURCE Jianglai Consulting