New leaders to stress economic stability over reform at NPC meeting
NPC meeting is expected to offer few surprises, with analysts predicting some talk of reform but an overriding focus on economic stability
The annual meeting of the National People's Congress, beginning on Tuesday, will be a stage for the new leadership to unveil more reform thinking, as Beijing focuses on promoting sustainable growth and social equality, analysts say.
Most observers do not expect any major surprises because the NPC has mostly served as a "rubber stamp" to endorse government proposals.
In its first year in office, the new administration led by Xi Jinping is expected to favour stable growth, with the focus on stability underscored by Beijing's decision - according to sources quoted last week - to retain Zhou Xiaochuan as People's Bank of China governor and keep two other senior bankers at their posts even though all three have reached the normal retirement age.
The mainland economy rebounded from growth rates that hit three-year lows in the middle of last year, to record average growth of 7.8 per cent for the year, thanks to interest-rate cuts and major infrastructure projects. But the recovery remains fragile, according to indicators such as export data.
On Tuesday, when Premier Wen Jiabao delivers his last government work report, wrapping up his second five-year term, he is expected to announce an unchanged gross domestic product growth target of 7.5 per cent for this year.