China Warehouse- More Than Crockery Message Board

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Strategies & Market Trends : China Warehouse- More Than Crockery

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To: RealMuLan who wrote (2905)	3/18/2004 1:18:22 PM
From: RealMuLan	Read Replies (2) of 6370

China shifts to a lower gear THE 10-day session of China's National People's Congress (NPC), which concluded over the weekend, produced a seismic shift in economic strategy which could have far-reaching implications for the world's most populous nation. Among the policy announcements made at the NPC (China's parliament), two stand out in particular from the standpoint of business. One was a proposed constitutional amendment to the effect that private property rights will be considered 'inviolable', and as such, will be protected under law. The second was the idea that China will henceforth pay more attention to bridging income inequalities rather than to promoting economic growth per se. The explicit protection granted to private property is a significant development in the context of China's officially socialisteconomy. It will consolidate market-oriented policies and provide comfort to both foreign and local investors. It will also have the effect of curbing often arbitrary repossession of privately held assets by the state. business-times.asia1.com.sg

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