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The 18th National Congress of the Communist Party of China marks a significant milestone: the successful election of the fifth generation of leaders who will determine China’s future direction for the next 10 years. This will have significant implications for the global community.
As China moves towards the "new normal" of single digit growth, investors should focus on its growing domestic market and rising incomes, while targeting green projects and the movement of labour-intensive industries towards the western and central parts of China. Most importantly, multinational companies should always stand ready to respond to further policy changes as they occur in China.
This commentary highlights China's new leadership, their policy platform, the rationale behind these policies, and the implications for multinational companies doing business in China.