China's Two Sessions: no target, but home-market reforms will power growth

For the first time in history, China has not set an explicit growth target for 2020, but is pursuing a broader set of socio-economic goals.

Key takeaways

  • Economic growth will be driven by market reforms targeted at boosting domestic consumption and investment.
  • Fiscal policy will support, but at an estimated 6% of GDP, spending will be lower than in many other major economies.
  • The government sees insurance market reforms as key to support its socio-economic targets.
  • We see new coverage opportunities in agriculture, life, health, pension, workers' compensation and engineering and liability lines of insurance business.

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Economic Insights China's Two Sessions: no target, but home-market reforms will power growth

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