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19th Congress Outcomes and Implications

On Thursday, 23rd November the Ireland China Business Association was honoured to host a private Roundtable Discussion with H.E. Ambassador Dr Yue on the ‘Outcomes & Implications of the 19th National Congress of the Communist Party of China‘.   This private Roundtable was open to Patron members and invited guests, and was very kindly hosted by A&L Goodbody.

Ambassador Dr Yue began by stating that the 19th Congress has paved a way forward for a very dynamic, bright and inspiring future for China.   By 2020, Chinese society as a whole will attain a higher level of prosperity.  By the year of 2035, China will basically reach the target of what is called “socialist modernisation”.  By the middle of this century, China will attain another target of “great modern socialist country”, the defining indicators will be those of even more prosperous life, strong economy, democratic system, advanced culture, harmonious society and a beautiful environment. 

The Ambassador elaborated further on what China is going to do to expand, deepen and quicken the reform:

  1. The supply-side restructuring will be strengthened
  2. Innovation and entrepreneurship will be the hallmark in a big and comprehensive way
  3. Market reform will be pressed on steadily
  4. A greater expansion of foreign trade with more liberalisation in business and overseas investment
  5. Continued support of multilateral trade regimes and work to facilitate the establishment of free trade areas and build an open world economy

In conclusion, Dr Yue mentioned that 2017 is the 5th anniversary of the establishment of China-Ireland Strategic Partnership for Mutually Beneficial Cooperation and stated that Ireland will continue to be a most valuable partner of China.   In the first three quarters of 2017, the trade between China and Ireland reached 8.3billionUSD, which is more than the annual trade in 2016.  China’s import from Ireland in that period is around 6.3billionUSD, an increase of 70%.  In that same period, not including financial and banking sectors, China’s direct investment to Ireland is close to 50million USD.  

Marie O’Brien A&L Goodbody, Ambassador Dr Yue, Ken Duggan ICBA Council Member

 Ambassador Dr. Yue elaborating on the outcomes and implications of the 19th Congress to our  Patron members and invuted guests

Discussion in progress

 

Marie O’Brien A&L Goodbody, H.E. Ambassador Dr. Yue, Caroline Devlin, Arthur Cox and ICBA Vice Chair, Ken Duggan ICBA Council Member

Ireland China Business Association

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