14TH FIVE-YEAR PLAN

A plan for the development of traditional Chinese medicine (TCM) recently issued by the General Office of the State Council envisages further strengthening of health service capabilities and development policies and systems by 2025. Positive achievements are to be made in the revitalisation and development of TCM and its unique advantages further leveraged. More

China recently released a plan for the development of e-commerce during the 14th Five-Year Plan period. The country’s e-commerce turnover is expected to increase from RMB37.2 trillion in 2020 to RMB46 trillion by 2025, while online retail sales will rise to RMB17 trillion from RMB11.8 trillion. More

Guangdong has just unveiled its 14th five-year plan for the development of its free trade zone. The main policies include creating a market-oriented, law-based and internationalised business environment, building an international trade and shipping hub, and establishing a financial opening-up and innovation demonstration window, in the Guangdong-Hong Kong-Macao Greater Bay Area. More

Shanghai’s 14th five-year plan to establish itself as an international financial centre envisages that total transactions in Shanghai’s financial market will reach a value of RMB2,800 trillion by 2025. Key tasks in the plan include the clustering of 50 leading fintech companies in the city. More