China has an enviable track record of meeting the objectives it lays out in its Five-Year Plans. From a business perspective, each Five-Year Plan lays out a clear map of expanded and new business opportunities. The focus of the Five-Year Plans also signals which areas are most likely to stagnate as it is believed they have reached their targets or potential.
The most recent Five-Year Plan covered eight areas. This week, we consider the first of these.
The first target is to keep major economic indicators within an appropriate range. Foremost among these is a growth rate that is compatible with a move towards common prosperity. The Western media is keen to promote the idea that the Chinese government’s stability rests on continued improvement of living conditions, as if this was something unique to China. It is an objective of all governments, although some major governments have been less successful than others.