What’s the “People’s Economy”?
Imagine tracking not just what happens inside a country, but also the money its people earn overseas. That’s Gross National Income (GNI) vs GDP. Launched by Commerce Minister Wang Wentao in late 2025, China’s new “People’s Economy” strategy puts GNI front and center, spotlighting how Chinese businesses thrive globally 🔍.
The China+N Playbook
Instead of moving out, brands use China as HQ and branch out abroad. Think Pop Mart’s collectible toys popping up in malls from Seoul to Singapore, Haidilao hotpot restaurants in Jakarta, and Luckin Coffee bringing its efficient brews to Bali cafés. It’s a shift from just shipping goods to building global brands 🌏✨.
Policy Power-Up
To make this work, Beijing is rolling out cross-border banking tools, smoother tax deals, and better consular support for biz travelers. Aligning Chinese rules with global norms—called “institutional openness”—plus upgraded investment treaties are clearing the path for smoother overseas operations 🚀.
Community & Co-Creation
With overseas Chinese behind over 60% of foreign investment in China (1979–2017), the diaspora is key. They bridge cultures, help navigate regs, and fine-tune products for local tastes. Forward-thinking firms are embracing “value co-creation,” teaming with local partners to boost jobs and tech know-how 🤝.
Challenges vs. Chances
Sure, protectionist vibes in some markets and home-front stability checks can slow things. Critics worry about spreading resources too thin. But over 50,000 Chinese companies in 190 countries, pumping more than $3 trillion abroad? That’s a solid base 💪.
Why It Matters for You
For Asia’s young pros, this isn’t just big-economy talk. It means new jobs, global internship gigs, and cutting-edge tech collaborations. As China bets on its people-led growth, the ripple effects could bring fresh opportunities across South and Southeast Asia 🌟.
Reference(s):
The "Chinese People's Economy" goes global: From policy to practice
cgtn.com
