Next month’s major political set piece will take on special significance this year as it coincides with the Communist Party’s centenary.
China’s real estate industry is mostly financed by loans, partly the result of a government effort to cap oversupply, which barred developers from selling homes off the plan. That turned the industry towards bank loans, bonds and any financial instrument that can fund their construction and land purchases.
An official budget figure for the PLA will not be announced at next month’s meetings but experts forecast small increase.
Scaling back economic stimulus would align with Beijing’s call for balancing development and security, with efforts focused on curbing “grey rhino” risks that could threaten China’s financial system.
As China’s political elite prepare for an important meeting of the National People’s Congress, they face an unprecedented global trade environment, according to industry experts.
Faced with tighter regulatory scrutiny, Chinese tech entrepreneurs may show greater support for Beijing’s political agenda at this year’s top legislative meetings, which also mark the launch of the country’s 14th five year plan.
Beijing, according to sources, is preparing a rigorous political inoculation plan to tame the rebellious city down south.
Hong Kong’s billionaires have long been seen as ‘kingmakers’ with sufficient clout in the Election Committee that selects the city’s leader.
As the only major economy to grow last year, China is expected to use the plenary meetings of its legislature and top political advisory body to show a new-found confidence.
Details in its five-year plan may reveal its intentions regarding research funding and the business environment for tech firms.
A push for economic self-reliance may have implications for international policies including the belt and road strategy.
