OH Ei Sun, Principal Adviser of Malaysia’s Asian Strategy & Leadership Institute:
From my perspective, the most impressive part of the government work report this year are the measures to improve the well-being of Chinese people. In general, I think this work report contains concrete measures to encourage Chinese people to pursue a happier life. For example, to promote environmental improvement is also an effort to meet the needs of people pursuing a happy life. Specifically, mineral production, especially coal mining, will be reduced moderately this year, which is an effective measure for environmental protection. The Chinese government has also issued preferential policies towards new energy vehicles. All of these combined are meant to improve the well-being of Chinese people.
It is highly commendable that China proposed to continue to facilitate the liberalization of international trade and investment. In the world today, it badly needs a major economy to promote the free trade, and the Chinese government shows a firm determination to push forward global economic cooperation and to maintain multilateral trade mechanism.
An important objective reality for China’s opening up is that the overall global economy is sluggish. In recent years, foreign companies have had common concerns in terms of the free flow of capital and the process of the internationalization of the Renminbi. The development of the emerging technology industry in China can not only create jobs but will also attract foreign investments with advantages beyond labor force.
The expected 6.5 percent economic growth rate this year elaborated in the government work report is consistent with my observation on China’s economy. This growth rate can create comparatively adequate jobs. To my pleasure, the growth rate of 6.5 percent can also inject impetus to the economic growth in neighboring countries including Malaysia, because the trade relationship between Malaysia and China is very close.
Other aspects in the government work report such as tax reduction, reduction of overcapacity and a deeper opening up to allow foreign companies to involve in the financial industry are also the focus of my attention.