China’s Politburo puts politics and discipline on agenda with economy

The first meeting of the year for China’s Politburo spoke volumes about the priorities of Communist Party leaders. First, it this week set the tone and direction for the coming national parliamentary sessions in March.

It also signalled that while stabilising the troubled economy is important, it will not be the only focus of this year’s agenda, instead sharing top billing with party politics.

For those hoping China would focus mainly on measures to jump-start the world’s second-largest economy and rescue mainland and Hong Kong markets from the doldrums, the signal was clear if somewhat muted.

After discussing reports from the National People’s Congress, the Chinese People’s Political Consultative Conference, the State Council and top judicial authorities, the Politburo signalled that political control and party discipline remain front and centre.

While supporting stable economic growth and stabilising markets now at multi-year lows remain important, China is focused on the longer term, and its busy agenda will include personnel issues and politics.

Major and swift bailout plans appear unlikely. The Politburo stressed strengthening party discipline, improving governance and consolidating its political base, especially at the local level, and preparing for unexpected emergencies.