China’s recently approved five-year plan envisions a reorientation of the economy towards a more socially equitable and environmentally sustainable growth model.
The new plan lays the foundation for a new social contract, a Chinese ‘New Deal’.
The state is to collect more dividends from state-owned enterprises than before, improving its ability to fund China’s developing social security system.
New measures have been introduced to control speculative investments by enterprises.
Politically influential central-level state enterprises, the so-called yangqi, have resisted efforts to wrest control over profits and investments away from them.
