China’s Two Sessions 2017
Each year in March, China’s leaders meet at the Lianghui, or “Two Sessions,” in Beijing to discuss policies and progress, review the government work plan and approve the national budget for the coming year. This year’s sessions were significant as the final meetings before the upcoming leadership transitions – which have even greater significance for China’s ongoing reform. There was an emphasis on stability, continuity and a gradual adjustment of the growth model. In what may be his final work report, Premier Li Keqiang pledged to deepen reforms, restructure the economy and improve people’s well-being. This was again largely in line with the themes set out in the Third Plenum of the 18th Communist Party Congress in 2013. The significance of the upcoming leadership transition was highlighted by the focus of commentators on the potential meaning of remarks by the Premier at the conclusion of his annual work report: “See you again, if there’s a chance.” In the document below, Burson-Marsteller’s analysts examine the outcomes of this year’s Two Sessions, and outline considerations for global companies in China in the current period of transformation.