China’s annual National People’s Congress, a major political event, is set to begin, where top leaders gather to endorse decisions made by the Chinese Communist Party. The event is still important for signaling government priorities and disseminating instructions. This year marks the end of China’s current 5-year plan, with experts looking for clues on the next plan for 2026-2030.
Key points to watch for include China’s economic growth target, expected to be around 5%, despite challenges in the real estate sector and consumer spending. The government’s priorities appear to focus on increasing domestic demand, promoting innovation, and supporting the private sector for growth.
China has released measures to bolster the economy, but analysts are cautious about significant policy shifts at the Congress. Instead, the focus seems to be on self-reliance through innovation rather than boosting consumption. China’s diplomacy, particularly regarding U.S.-China relations, Taiwan, and Russia’s position on the Ukraine war, will also be closely monitored during the event.
The National People’s Congress, with nearly 3,000 delegates, does not have legislative power but acts as a platform to showcase government priorities and goals. The concurrent meeting of the Chinese People’s Political Consultative Conference represents various interests in Chinese society. The Two Sessions provide insights into the future direction of government policy.
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