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Two Sessions 2023 (Lianghui): Top Prioritiesi

Two Sessions refers to China's annual parliamentary meetings, where the two main political bodies of China - the National People's Congress (NPC) and the National Committee of the Chinese People's Political Consultative Conference (CPPCC) - reveal plans for China's policies involving the economy, military, trade, diplomacy, the environment and more.

This year’s event will be the first after China dropped its three-year-old Covid-19 restrictions. It will see a major reshuffle of top government jobs including the premier. President Xi Jinping, who just secured a ground-breaking third term as party’s leader, is set to secure a third presidential term at the two sessions too.

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The ultra-leftist revival threatens Xi’s plans to revive the economy and turn China into a dominant world power by 2049. It’s time to curb these ultra-nationalistic tendencies and return to pragmatic reform and development.

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  • New commission will centralise leadership, determining national strategy and goals
  • Country’s resources will be concentrated to bring down institutional barriers to make gains in core technologies, observer says
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Since being appointed central bank governor in 2018, US-educated Yi Gang has led financial reforms and a debt reduction campaign, while maintaining a prudent monetary stance.

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China’s ‘two sessions’ confirms top roles for Yi Gang and Liu Kun at the central bank and the Ministry of Finance as authorities confront financial headwinds.

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Li Qiang was confirmed as China’s premier – its No 2 official – on Saturday during the ‘two sessions’, but the position is seen to hold diminishing authority as President Xi Jinping consolidates power.

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A widening population imbalance continues to plague China, but this year’s government work report did not offer much detail about how the dilemma will be addressed, raising concerns.

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Talk of financial risk management at annual parliamentary meetings serves as a high-profile reassurance of leadership’s repeated vows to curb financial risks and alleviate revenue problems across the country.

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President Xi Jinping has again urged entrepreneurs to give to charity and ‘share the fruits of growth’, but his message could find a muted reaction among private firms still recovering from three years of Covid uncertainty.

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The Ministry of Commerce in Beijing said on Wednesday that it was ‘open’ to a visit by US Secretary of Commerce Gina Raimondo after she said last week that she was considering visiting China.

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For China, the task of boosting the private economy will be divided into more detailed plans and be allocated to specific government agencies for implementation after the ongoing ‘two sessions’ parliamentary meetings.

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China will create a new oversight body for parts of the finance sector, strengthen the science and technology ministry, and establish a new data regime in an effort to fortify the country against mounting risks.

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China’s universities and colleges are urged to fall in line with national childbirth policy direction, but some demographers warn against encouraging or discouraging students in family planning.

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