2018 a Big Year for China

2018 a Big Year for China

2018 a Big Year for China

China will seek solid progress on preventing major risks, and on targeted poverty alleviation and pollution control in 2018, according to the central authorities Friday.

An overall plan should be made to “ensure the winning of the three tough battles,” said a document released after a Political Bureau of the Communist Party of China (CPC) Central Committee meeting.

The meeting, which focused on analyzing and studying the economic work in 2018, was chaired by Xi Jinping, general secretary of the CPC Central Committee.

“China should contain the overall leverage ratio and raise the financial sector’s capability of serving the real economy to prevent and defuse major risks,” it said.

The document outlined details on several key areas.

For targeted poverty relief, the country must provide precise support for special impoverished groups, and intensify efforts in regions of abject poverty.

Efforts should be made to help impoverished people increase confidence in their ability to lift themselves out of poverty and ensure they can access the education they need.

For pollution control, the country should continue to reduce the emission of major pollutants to improve environment quality.

The document said the country would adhere to “seeking progress while maintaining stability” as the underlying principle of the work.

“Pushing for high-quality development is the fundamental requirement for determining the development path, making economic policies and conducting macro-economic regulation at present and in a period to come,” the document said.

In 2018, China will also strive for marked results in major tasks, including deepening supply-side structural reform, accelerating housing system reform and forming a housing mechanism with lasting effects, and providing more quality ecological products, according to the document.

Next year is the first year after the 19th CPC National Congress, and the 40th anniversary of China’s reform and opening up policy. It is also an important year in working towards becoming a moderately prosperous society in all respects by 2020, and implementing the country’s 13th Five-Year Plan (2016-2020).

“The country should implement the spirit of the 19th CPC national congress in an all-round way, follow the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, and strengthen the CPC leadership over economic work,” the document said.

China will coordinate efforts on stabilizing growth, pushing reform, restructuring, improving livelihoods and preventing risk.

“Work must also be done to drive ahead reform and opening up and develop new methods to improve macroeconomic regulation,” the document said.

“[We should] guide and stabilize expectations, improve people’s lives and secure continuous and healthy socio-economic development,” it said.

“Near the end of this year, local authorities should make earnest efforts to ensure work safety, public security and social stability,” said the document.

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S. Jack Heffernan Ph.D. Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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