South Africa

Details

  • Industry: Business Desk, China
  • Type: Business and industry issue
  • Date: 2011/03/28

The KPMG Global China Practice Network

KPMG's China Desk was established to assist clients from South Africa with establishing business relationships in China and vice-versa.

China’s 12th Five-Year Plan: Overview 

China’s 12th Five-Year Plan emphasises sustainable economic growth.
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Approved in mid-March by the National People’s Congress, the new programme sets economic targets to be achieved by 2015. It aims to boost domestic consumption and thereby reduce China’s reliance on exports.

 

To support local consumption, the official minimum wage may rise by 13%. This ties-in with the government’s aim of increasing the wellbeing of citizens by upgrading social welfare, decreasing carbon emissions, supporting green industries and growing the service sector.