The BGA China Team led by Senior Advisor Haiying Yuan, wrote an update to clients on the business implications of the recently concluded Chinese 20th Party Congress.


  • The Chinese Communist Party 20th national congress saw notable leadership changes in the Politburo and Politburo Standing Committee — the party’s highest organ. The standing committee’s seven members — all Xi Jinping loyalists — are the top decision-makers in China’s government, economy, military and society.


  • Security is a top priority for the party, even at the expense of economic growth and development. China is currently pressed with national security, food security, energy security, pandemic security and social stability challenges that it must overcome in the months and years ahead.
  • The government is likely to rapidly, yet strategically, open high-tech and high-end manufacturing and services to foreign direct investment. This will also advance government efforts to promote economic growth and development, which is likely to come through more intervention in markets and corporate governance.


  • Companies should be prepared for deeper economic intervention in the years ahead, which could compound business risk. As part of ongoing efforts to address China’s economic inequalities and achieve domestic-led growth, the government will continue to advance Xi’s “common prosperity” and “dual circulation” agendas.
  • To successfully conduct business in China, companies will need to show that their presence and investments in China contribute toward increasing the country’s security as defined by the party. They will also need to abide by all national security requirements. This will increase short- and long-term costs and uncertainty.

We will continue to keep you updated on developments in China as they occur. If you have any comments or questions, please contact BGA Advisor Eric Wang at