China's End-of-the-Year Economic Work Conference Prioritizes 'Going Global' and Increased Imports Strategies for 2007

by Sumita Ghosh, Senior Researcher, Investment Intelligence Unit, Dezan Shira & Associates

For the first time at a national forum of this scale, central government officials placed next year’s development emphasis - in-line with ‘balanced economy’ goals set out in the 11th 5-Year-Plan (2006-10) – on increasing Chinese investments overseas. The strategy, ‘Going Global’, prioritizes overseas investments predominantly in energy, infrastructure and Info-Tech R&D industries. China’s overseas (direct) investment in 2005 accounted for less than .60% of global foreign investment (far less than its global share of GDP and trade; 4.4% and 6.5% respectively).

Officials also highlighted the need to heavily attract new and traditionally demanded goods - not only high-tech and innovation-driven goods and know-how, but also consumer & cultural goods and agricultural products.

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This article included in China Briefing Magazine
January / February 2007: INDIVIDUAL INCOME TAX IN CHINA	Other articles in this issue: Supplemental Employee Heating Charges Hit Investors in Liaoning by Adam Livermore, Senior Associate, Dezan Shira & Associates Annual Licensing & Renewals in China by John Zhang, Senior Financial Auditor, Dezan Shira & Associates