China’s ‘two sessions’: Beijing set to signal post-coronavirus economic confidence
- China’s leaders are expected to use the plenary meetings of the legislature and its top political advisory body to tout achievements and ‘boost people’s confidence’
- The annual gathering of high-ranking party delegates will also provide details on new economic targets for the next five years and China’s 2035 vision
China’s political elite will gather in Beijing this week for the year’s biggest legislative set piece, known as the “two sessions” or lianghui , facing a number of major political challenges, including the aftermath of the coronavirus and the ongoing rivalry with the United States. In this instalment of a series looking at the agenda, we examine why Beijing is likely to use the event to highlight its economic achievements.
A total of 5,000 delegates from the National People’s Congress, the country’s legislature, and the top political advisory body, the Chinese People’s Political Consultative Conference, will be attending the main political gathering in the capital.
The annual meeting in the Great Hall of the People is likely to be filled with congratulatory messages extolling China’s recent achievements in economic development, reform, and successfully bringing the pandemic under control, analysts said.
China was the only major economy to post positive growth last year, expanding at 2.3 per cent, while economies in Europe and the United States were ravaged by the pandemic.
With Covid under control and a new US president, Chinese authorities will want to boost market confidence in China’s economic future
The US economy suffered its worst contraction since the second world war, falling by 3.5 per cent last year, and the euro zone shrank by 6.8 per cent.