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Two Sessions

All articles tagged with #two sessions

world1 month ago•6 min saved

China's NPC closes with tech-led growth and consumer-spending bets

China’s National People’s Congress wraps up with plans to accelerate technology and AI integration, lift R&D spending, and boost domestic consumption through measures like expanded childcare and social welfare. The five-year plan targets 4.5–5% GDP growth, signaling slower expansion but a pivot toward tech-led development and greater state borrowing for infrastructure and welfare. Analysts caution that consumer demand remains weak and details are sparse, leaving execution uncertain, as Xi Jinping seeks stability and a stronger tech-led position amid US tensions.

via BBC|

#china #economy #npc

business1 month ago•5 min saved

China shifts to spending-led growth as economy cools

China is pushing a shift from investment- and export-led growth to boosting household spending, unveiling a 4.5–5% growth target and a suite of “investing in people” measures—expanded elder care, paid leave, child support, and an urban-rural income plan—to lift consumption. Analysts caution the shift will be gradual, given weak consumer confidence, a long downturn in real estate that erodes household wealth, birth-rate declines, and high youth unemployment, with stimulus effects shown to be limited so far. The plan’s success hinges on restoring incomes and confidence rather than a short-term fiscal push, while China continues to emphasize advanced manufacturing and tech as anchors for future growth.

via BBC|

#business #china-economy #consumption

economy1 month ago•5 min saved

China Sets Modest 2026 Growth Target, Emphasizes Quality Over Speed

China set a 2026 GDP growth target of 4.5%–5%, the lowest on record, with a roughly 4% budget deficit and around 2% inflation, signaling a shift from chasing high growth to a 'quality-first' approach amid deflation and weak domestic demand. Authorities will deploy sizable fiscal and monetary tools—such as ultra-long-term bonds and local-government bonds—to sustain growth, boost consumption and investment, and create urban jobs as the Two Sessions proceed.

via CNBC|

#china #deflation #economy

world1 month ago•6 min saved

China eyes a high-tech ascent to fuel its next decade

China is using the Two Sessions to approve the 15th Five-Year Plan, signaling a shift from defensive innovation to deploying homegrown tech at scale—aiming to accelerate breakthroughs in chips, AI, quantum tech, and other future industries, boost manufacturing, and expand global tech influence amid US tensions, a slowing economy, and demographic headwinds.

via CNN|

#ai #china #five-year-plan

world1 month ago•2 min saved

China purges nine senior military officials ahead of pivotal Two Sessions

China's National People's Congress Standing Committee announced the removal of nine military officials from its lawmakers list ahead of the upcoming Two Sessions, part of Xi Jinping's ongoing anti-corruption campaign that has seen hundreds removed in recent years. The nine join a wave of purges including PLA Ground Force commander Li Qiaoming, former PLA Navy commander Shen Jinlong, and Sun Shaochong (former Inner Mongolia party chief), following the earlier removal of top general Zhang Youxia. The moves are viewed as efforts to consolidate power before Beijing’s annual meetings (March 4–11), when the government will outline its five-year plan and economic targets.

via BBC|

#anti-corruption #china #military-purges

economy2 years ago•2 min saved

China Shocks Economy and People by Canceling Premier's Annual Press Conference

China's Premier Li Qiang's surprise absence from the traditional press conference during the "Two Sessions" annual gathering has raised concerns among investors amid the country's post-pandemic economic slowdown. This move, unprecedented in over three decades, comes as China's top advisory body and legislature set state and spending priorities for the next few years. With declining foreign investment, concerns over transparency, and a slowing housing market, some experts advise against investing in China. The Two Sessions are closely watched for signals on Beijing's power dynamics and economic strategies, with Premier Li announcing a GDP growth target of around 5 percent for the coming year.

via Newsweek|

#china #economic-policy #economy

economic-policy2 years ago•1 min saved

"China Defends GDP Goal, Announces Push to Jumpstart Economy with 5% Growth Target"

During China's annual "two sessions," Beijing defended its realistic GDP growth target of around 5% for 2024 and vowed to crack down on financial market irregularities. However, questions persist on how the government will tackle issues such as the property crisis and local government debt woes facing the country's economy.

via South China Morning Post|

#beijing #china #economic-policy

economy2 years ago•0 min saved

"China's Premier Li Qiang Unveils Ambitious 5% GDP Target, Investors Remain Skeptical"

Premier Li Qiang sets China's GDP target at around 5% for the year during the 'two sessions' 2024, addressing concerns about the country's economy following market slides and faltering growth figures last year. The meeting will also cover foreign policy, social issues, and approach towards Hong Kong and Taiwan.

via South China Morning Post|

#china #economic-goals #economy

politics2 years ago•6 min saved

"China's 'Two Sessions': Leaders Navigate Economic Challenges and Political Drama"

China's "two sessions" political gathering has commenced in Beijing, with leaders aiming to address economic concerns and project confidence amid challenges such as a property sector crisis, local government debt, deflation, stock market turmoil, and US tech friction. President Xi Jinping and his team face growing skepticism about their leadership as economic pain and political shakeups persist. The gathering provides a platform for China to announce key indicators and policies, but Xi's power remains secure despite eroding public trust in the leadership's ability to deliver higher growth. Policymakers, investors, and global observers are closely monitoring the event for signals on China's economic direction and its impact on the global economy.

via CNN|

#china #economy #political-gathering

politics2 years ago•6 min saved

China's Two Sessions: Navigating Economic Challenges and Political Changes

The National People's Congress in China is set to convene, with thousands of delegates expected to gather to rubber-stamp decisions already made behind closed doors. The focus will be on potential changes in the official Party line and what they might mean for China and the world, particularly in the midst of economic challenges such as a real estate crisis, high youth unemployment, and local government debt. President Xi Jinping's emphasis on "new productive forces" and technological innovation may signal a turning point for the Chinese economy, but the Congress is expected to be highly choreographed, with limited room for dissent.

via BBC.com|

#china #economy #national-peoples-congress