China’s annual major political event, the National People’s Congress, gets underway this week, bringing together top leaders and thousands of provincial leaders to endorse decisions made by the Chinese Communist Party. The five-day meeting is a significant event for the country, as it provides insight into the government’s priorities and goals.
The National People’s Congress has long been known for its rubber-stamp parliament, where decisions are overwhelmingly in favor of the party. However, this year, experts expect leaders to balance the push for innovation with domestic consumption, aiming to reinvigorate the economy.
The key question on everyone’s mind is how China will address economic growth targets, which analysts predict to come in at around 5%, slightly lower than previous years. This comes as the country grapples with a sluggish real estate sector and lackluster consumer spending.
The government’s priorities are expected to focus on boosting domestic demand, promoting innovation, and supporting the private sector. A draft bill is also set to be deliberated over making a fairer business environment for the private sector.
Foreign policy is also expected to be a major focus, with Premier Li Qiang likely to discuss trade tensions with the US under President Trump. The international community will closely watch Foreign Minister Wang Yi’s annual news conference later in the week for insight into China’s stance on US-China relations.
The National People’s Congress is not a powerful legislative body, but it provides an opportunity to see what the central government sees as priorities and goals. This year’s Two Sessions, which include both meetings, are expected to shed light on China’s future direction of policy and diplomacy under the current leadership.
Source: https://apnews.com/article/china-congress-legislature-5cf899bfc9d4705135d9dd56c8dc5212