The Annual Growth Target for Chinese Economy, Set at 7%
- Written by: Bridgewest
- Posted: 2016-09-21
China’s economy is a powerful player among the global economies and it contributes with one third of the total economic international growth. According to the latest reports, China is becoming more sustainable every day and is successfully moving towards services and domestic demand developments. The Chinese government has settled a 7% annual economic growth and still makes all the necessary adjustments to maintain the percentage and even to upsurge it. Apart from this important matter, you can ask for information and assistance from our Chinese lawyers, if you want legal services or details about the tax system in the country.
Why is China a major economic player worldwide?
Since 1978, due to major reformes imposed by the government, China has rapidly developed and encountered a brilliant economic growth, adding 10% to its GDP (gross domestic product) in the last few years. With 1.3 billion population, China performs a significant role on the international economy and remains a developing nation, offering major investment opportunities for all interested foreign investors.
Having significant developments in areas like tourism, transportation, services or hi-tech industries, China is set to achieve many important goals, such as changing low incomes into middle ones. It is well-known that China’s attention to environmental projects is on top priorities nowadays, the Paris Agreement with US being a significant proof. Our lawyer in China can provide you with suitable information on this matter and you can also solicit details about the rules and the regulations in the country.
The Chinese government has approved the five-year plan
The fast urbanization, the ecological sustainability and the economic improvements are on top plans for the next five years. Besides that, the Chinese authorities do offer special attention to other major purposes, such as, healthcare, pollution decrease, services progress and energy productivity. The Chinese five-year development plan includes also the 7% growth objective, for a flourishing society, according to experts. Many foreign investors are having a close-eye on the new economic plan, and they are trying to develop new business opportunities.
If you are interested in making investments in the country, you can contact our law firm in China.