China Prepares for Big Meeting to Chart Growth Strategy

The Chinese government is set to kick off an annual parliamentary meeting this week for approving national priorities for 2021. The gathering of delegates, known as the Two Sessions, has overseen such changes as President Xi Jinpings abolition of term limits in 2018 and the proposal for a new security law for Hong Kong last year. The otherwise generally symbolic meeting takes on particular significance this year as it marks the beginning of Chinas fiveyear development plan the 14th such in the countrys history and the 100th anniversary of the ruling Communist Party.

Authorities are expected to lay out details on topics ranging from employment targets to management of the semiautonomous region of Hong Kong. Such comments will come as Beijing seeks to show progress on development promises made to the country of 1.4 billion people, and build up Chinas competitiveness in a world shocked by the coronavirus pandemic and growing wary of the Asian giants rise.

The Two Sessions parliamentary meeting is slated to begin Thursday with the opening of the Chinese Peoples Political Consultative Conference, an advisory body. The National Peoples Congress legislature is scheduled to kick off its annual gathering on Friday. Thats usually when the government releases its economic work report, a document laying out GDP, employment, inflation and other growth goals.

Most economists do not expect authorities will release a GDP target this year, after making a rare decision not to do so…

What's your reaction?

In Love
Not Sure

You may also like

Leave a reply

Your email address will not be published. Required fields are marked *

More in:News