ExplainerChina’s ‘two sessions’: what can we expect as Beijing plots course for 2022?

‘Two sessions’ is the annual meetings of the National People’s Congress (NPC) and the National Committee of the Chinese People’s Political Consultative Conference (CPPCC)

It begins this year on March 4 in Beijing, and will lay out major policies involving the economy, trade, diplomacy, the environment and more

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The “two sessions”, which is the annual meetings of the National People’s Congress (NPC) and the National Committee of the Chinese People’s Political Consultative Conference (CPPCC), begins this year on March 5 in Beijing. Photo: Xinhua

Published: 11:00pm, 24 Feb 2022Updated: 12:43am, 25 Feb 2022

China will soon convene its annual parliamentary meetings, which will set out plans for policies involving the economy, trade, diplomacy, the environment and more.

The “two sessions”, which are the annual meetings of the National People’s Congress (NPC) and the National Committee of the Chinese People’s Political Consultative Conference (CPPCC), begins this year on March 4 in Beijing.

It will offer China’s top officials the chance to lay out major economic policies affecting global markets and serves as a rare occasion to answer key domestic and international concerns.

Authorities have already raised the “threefold pressure” of contraction of demand, supply shocks and weaker expectations.

External headwinds are also growing with the US Federal Reserve’s potentially aggressive monetary tightening, continued technological containment efforts by the United States and commodity price hikes caused by geopolitical tensions.

The ongoing crisis in Ukraine has added a further complication as more confrontations between major powers that have already haunted the global economic recovery and commodities markets loom.

So, what can we expect from China’s top leaders next month?

GDP and regulation

China’s growth target, a baton for the economic policies for the rest of the year, will be revealed at the opening of the NPC session on March 5, when Premier Li Keqiang delivers the government work report.