13TH FIVE YEAR PLAN

China has given the green light to shore up weak spots in the three areas of poverty alleviation, education and poverty reduction as well as ecological environment protection in accordance with the 13th Five-Year Plan for National Economic and Social Development in an executive meeting of the State Council recently. More

Against the backdrop of rising incomes and a swelling middle class, the contributions of consumption to growth will continue to increase during the 13th Five-Year Plan. Businesses intending to venture into the mainland must upgrade their quality, design and brand with the introduction of green, trendy and other new elements. Meanwhile, consumers’ growing demand for consumer services such as culture, medicine and healthcare, tourism, leisure and recreation is another trend not to be overlooked. More

China’s 13th Five-Year Plan calls for innovation to enhance the competitiveness of various industries and to help private enterprises move towards higher value-added businesses amid intensified global competition. Such policies are expected to boost China’s demand for technology and related services. With advantages like access to foreign technology, free flow of information and capital and strength in commercialisation, Hong Kong is well placed to capitalise on such increasing demand. More

While Made in China 2025 and Industrie 4.0 may lead to competition between Chinese and German industries, the different development priorities of the two strategies reveal more opportunities for cooperation than competition, including in the area of industrial robots. While Hong Kong is the first port of call for Chinese mainland companies seeking foreign partners, the strength of its technology sector also make it an ideal place for foreign companies to tap into the mainland market. More