00:00Let's get some reaction now. Adam Donett is the Secretary-General of the European Union Chamber of Commerce in China.
00:07The thing, you know, around boosting consumer confidence, so any measures to support, you know, education or the term common prosperity has featured, again, I see in the readout.
00:21These are signs that I think the general public will take as a positive signal and I think would be good for business as well.
00:28Where do you see specific opportunities for EU companies?
00:33For example, the readout talks about accelerating the green transition and also modernizing the national security system.
00:40Just two examples.
00:41Well, the green transition is a great one.
00:44We released our position paper in September and our number four recommendation was involving European companies in China's green transition.
00:53We've got a lot of great companies here that would like to contribute or are contributing already in areas such as green methane or sustainable aviation fuels or, you know, sharing the experience from our carbon markets or bringing in expertise on how to do certification, verification of carbon emissions.
01:14I mean, we all have shared goals in this area and it's a great area for us to work together on.
01:21China has been planning in five year tranches for decades now.
01:26How does that consistent focus actually help foreign companies plan their own strategies for doing business with China?
01:33Yeah, no, I think it does.
01:38I think there's often, I think in the West, a bit of, I don't know, criticism or, you know, mystery about these five year plans.
01:46I mean, even though we've only got the outline and key takeaways from the meeting this week, we're going to see the full document at the Li Anhui, the two sessions in March.
02:00And it is an excellent, you know, business development directory for foreign and Chinese companies alike.
02:06The Chinese government is normally pretty clear about the area in which it wants to go and where foreign companies will be invited to play a role.
02:16So I strongly do encourage foreign companies to look carefully at this document when it comes out and to pay close attention to what's been said in the news this week, will be said.
02:28And quite frankly, there's a lot of statements and speeches and essays and publications just in the last year that have already hinted that in the lead up to this week's meetings where the 15th five year plan is going.
02:44So for a country and economy like China, paying close attention to these policy and strategic guidance, documents, plans is really, really important for understanding the opportunities and risks that you were talking about earlier.
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