On October 24, 2017 the 19th National Congress of the Communist Party of China ratified changes to the Constitution of the Communist Party of China. The Congress approved the incorporation of Xi Jinping’s Thoughts on Socialism with Chinese Characteristics for a New Era in the history of China. With this, the One Belt One Road (OBOR) initiative is now officially a part of the Chinese Constitution.
This project will have far-reaching consequences for everybody who does business in the region and beyond. Therefore, it’s vital that representatives of industries impacted by this initiative should have a fair idea of what it stands for and what it means for certain industries in Asia and globally.
In 2013, China faced the prospect of a slowdown in the growth rate (it’s expected to be 6.5% in 2017), and a domestic overproduction of products from steel and cement to paper, and launched what is probably the most ambitious infrastructure plan of all time. The overall objective is to change China’s economic profile from the “workbench of the world” to a high-tech, service-oriented economy. A major part of this ambitious plan is the development of the “One Belt One Road” initiative on the lines of the ancient Silk Route. The OBOR is primarily designed to promote and export China’s ideas, knowledge, goods and technology to the world. To endow this objective with sufficient gravitas, the OBOR became part of China’s Constitution last October.
In Ducker’s white paper: One Belt, One Road Initiative: China’s Modern-Day Silk Road, you will learn:
- How the OBOR initiative will impact companies who do business in China and beyond
- What/who is included in the OBOR initiative
- How OBOR will directly impact China
- The major benefits of the OBOR initiative
- Ducker insights into how your company should be prepared
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