Published by ChinaMNC · Taikang

China Marks 77th Anniversary: Key Signals for Foreign Founders Operating in China

A ChinaMNC summary of the 77th anniversary reception, highlighting economic policy signals relevant to foreign founders registering or operating a company in China.

China Marks 77th Anniversary: Policy Signals for Foreign Founders

On the evening of September 30, a reception celebrating the 77th anniversary of the founding of the People's Republic of China was held at the Great Hall of the People in Beijing. President Xi Jinping attended and delivered an important speech. Premier Li Qiang presided over the reception, and other senior leaders, including Zhao Leji, Wang Huning, Cai Qi, Ding Xuexiang, Li Xi, and Han Zheng, were present. About 800 Chinese and foreign guests gathered for the event. For foreign founders registering or operating a company in China, the speech contains several policy directions worth noting.

Economic Resilience and Policy Priorities

Xi emphasized that over the past 77 years, the Party has led the people in creating two major miracles: rapid economic development and long-term social stability. He noted that China has achieved the first centenary goal of building a moderately prosperous society in all respects and is now advancing toward the second centenary goal of building a great modern socialist country.

Turning to the current year, Xi stated that the whole Party and nation have been forging ahead, formulating and implementing the 15th Five-Year Plan, and steadily advancing work in all areas. The economy has withstood pressure, moved toward new and better directions, and demonstrated strong resilience and vitality. He called for adhering to the general principle of seeking progress while maintaining stability, fully and accurately implementing the new development philosophy, accelerating the construction of a new development pattern, further deepening reform and opening up, better coordinating development and security, promoting sustained and improved economic development, ensuring and improving people's livelihoods, and striving to complete the annual targets and achieve a good start for the 15th Five-Year Plan.

For foreign founders, these points suggest that China's policy focus remains on economic stability, reform, and opening up. The emphasis on completing annual targets and implementing the 15th Five-Year Plan indicates continuity in economic governance. While the speech does not provide specific measures for foreign businesses, the general direction of deepening reform and opening up is relevant to those considering company registration or expansion in China.

Hong Kong, Macao, and Cross-Strait Relations

Xi reaffirmed the commitment to the principles of "one country, two systems," "Hong Kong people governing Hong Kong," "Macao people governing Macao," and a high degree of autonomy. He expressed support for Hong Kong and Macao to better integrate into and serve the country's overall development and to maintain long-term prosperity and stability. He also called for deepening cross-strait exchanges and cooperation, resolutely combating "Taiwan independence" separatist forces, opposing external interference, promoting peaceful development of cross-strait relations, and advancing the cause of national reunification.

These statements are consistent with established policies. Foreign founders with operations in Hong Kong or Macao may note the continued emphasis on integration into national development, which could affect regional business strategies. However, the source does not provide new operational details.

Foreign Policy and Global Engagement

Xi stressed that China will adhere to an independent foreign policy of peace, promote the implementation of the four major global initiatives, and advance the building of a community with a shared future for mankind, injecting more certainty and positive energy into a world intertwined with changes and turbulence.

This reaffirms China's commitment to international engagement. For foreign founders, it signals that China continues to position itself as a stable and open partner, which may be relevant when assessing the broader environment for foreign investment and business operations.

Attendance and Practical Implications

The reception was attended by various officials, including members of the Political Bureau of the CPC Central Committee, vice chairpersons of the Standing Committee of the National People's Congress, vice premiers, state councilors, and others. Also present were representatives from central and state departments, Beijing municipal authorities, democratic parties, the All-China Federation of Industry and Commerce, and individuals from various sectors. Notably, the event included foreign ambassadors, representatives of international organizations in China, and foreign experts.

The presence of foreign guests underscores China's continued engagement with the international community. For foreign founders, this suggests that channels for international business and cooperation remain open, although the source does not detail specific policies for foreign enterprises.

Key Takeaways for Foreign Founders

• Economic stability and reform: The speech highlights resilience and a focus on reform and opening up, which are relevant to the business environment.
• 15th Five-Year Plan: The formulation and implementation of the plan indicate ongoing economic planning that may shape opportunities and regulations.
• Hong Kong and Macao: Continued support for integration into national development may affect regional business strategies.
• Foreign engagement: The inclusion of foreign guests and emphasis on international cooperation suggest a continued openness to foreign participation.

While the speech does not provide specific guidance for company registration or operations, it reinforces the overall policy direction. Foreign founders should monitor official announcements for detailed regulations and procedures.

This summary is based on information published by the relevant Chinese government website and is general information, not legal or tax advice.

Need Assistance?

Foreign founders can contact ChinaMNC on WhatsApp / WeChat at +86 153 1898 8535 for help registering and operating a company in China.