In this video, Charlie Awdry, China equities portfolio manager, shares his conclusions from the 19th China Party Congress meeting and discusses the ramifications for investors.
National Congress of the Communist Party of China: held every five years, the meeting sees the appointment of senior leaders including the all-powerful Central Committee. Additonally, Congress also reviews and makes necessary changes to the Party's constitution.
‘One Belt One Road’: an initiative by China’s President Xi Jinping to implement trade-boosting infrastructure projects following the ancient Silk Road from China through central Asia and the Middle East to Europe, and another route by sea linking China to Southeast Asia and East Africa with the aim of supporting growth and trade in developing countries including China.
Supply-side reform: includes efforts to decrease debt levels, cut excess capacity (when demand is less than optimal supply), reduce costs and shoring up weaker areas across all sectors in China's economy.
Xi Jinping Thought: a new body of political thought added to the Communist Party’s constitution; seen as a nod to President Xi’s increasing power, credibility, legitimacy and authority within China.