COVID-19 has all eyes, not least Chairman Xi’s, on public health. But reactive measures will do little to bolster the post-pandemic health system. Pre-existing conditions across healthcare provision and insurance must be tackled in this next plan period, with innovation in digital health and biopharma tech at the core.
Genetic and biometric data also feature in the draft Personal Information Protection Law, which had a first reading at NPC. Taking 15 years to develop, the draft reportedly focuses on safeguarding internet users against IT giants, fining the likes of BAT giants up to five percent of turnover or C¥50 million for data leaks.
Innovation and consumption are set to dominate the 14th 5-year social and economic development plan. Flourishing financial and digital sectors are crucial to this development.
MoE (Ministry of Education) along with National Development and Reform Commission and Ministry of Finance laid out sweeping reforms on 21 September. Grad ed will be drastically expanded. Some seven universities, reports The Paper, will each recruit at least 1,000 more grad students each in 2021.
Our Civil Code slide deck blends ease of reading with detail. Infused with expert opinions, it gives an overview of the debate and proposals during the drafting process. It highlights legislative gaps and looks forward to the future of PRC civil law.
A virtual UN General Assembly was surprised by Chairman Xi Jinping’s 习近平 pledge to reach peak emissions before 2030, and carbon neutrality by 2060. A hydrogen development plan covering the entire supply chain is in draft.
Outlining broad social and economic goals, the plan will light the paths for China Policy’s areas of interest: agriculture, environment, innovation, trade, energy and social policy, etc., all of which generate global impact.
Ministry of Education assured students studying online that their degrees will remain valid. Higher ed institutions are urged to credit completed courses and ease transfer to a Chinese or joint Sino-foreign campus for students who have suspended overseas studies.
The National People’s Congress adopted the Civil Code on 28 May 2020, a legal coming of age. A massive piece of legislation, it brings together existing civil legislation, clarifies rights and introduces new regulations. Elements were put to the public ten times, receiving more than 1 million opinions and suggestions.
Ministries are adjusting and releasing new long-term strategies. Following several bank bailouts in 2019, and the declaration of Baoshang Bank’s bankruptcy last month, CBIRC released a three-year plan to upgrade corporate governance in the finance industry.
Expanding a secure social safety net dominates the agenda, with CCP Central Committee and State Council outlining plans to revamp social assistance. Extending services rather than funding is proposed, along with enlisting charities and other non-state actors. Emphasis is on timeliness.
Payments to the state when land is bought and sold (‘transfer of land use rights’) have long been a pillar of local government revenue. Under real economic stress in H1, local finances were cushioned by land sales, averting slumps in fixed-asset investment.