Tag: National People’s Congress (China)

China Cancels a News Conference, Shutting a Window for Its People

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For more than 30 years, the Chinese premier’s annual news conference was the only time that a top leader took questions from journalists about the state of the country. It was the only occasion for members of the public to size up for themselves China’s No. 2 official. It was the only moment when some Chinese might feel a faint sense of political participation in a country without elections. On Monday, China announced that the premier’s news conference, marking the end of the country’s annual rubber-stamp legislature, will no longer…

Is China’s Era of High Growth Over?

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China’s real growth agenda China announced an official growth target of about 5 percent on Tuesday that’s already looking hard to pull off. The world’s second-biggest economy is facing headwinds, from a consumer slowdown to weak investor confidence and a trade war with the West. But the growth target only tells part of the story of how Beijing is rethinking economic policy. Left out of the pronouncements: a stimulus package. Investors watch the annual gathering of the National People’s Congress, the country’s rubber-stamp parliament, and a parallel meeting of China’s…

China’s New Economic Agenda, a Lot Like the Old One: Takeaways

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Beijing was abuzz with politics on Tuesday. China’s annual legislative meeting — the National People’s Congress, when Communist Party leaders promote their solutions for national ills — opened for business. The event is a chance for the leaders to signal the direction of the economy and outline how and where the government will spend money in the coming year. Yet while aiming high, they offered little. Officials signaled that they were not ready for any showstopping moves to revive an economy battered by a property crisis, the loss of consumer…

China Sets Economic Growth Target of About 5%

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China’s top leaders on Tuesday set an ambitious target for growth as its economy is laboring under a steep slide in the housing market, consumer malaise and investor wariness. Premier Li Qiang, the country’s No. 2 official after Xi Jinping, said in his report to the annual session of the legislature that the government would seek economic growth of around 5 percent. That is the same target that China’s leadership set for last year, when official statistics ended up showing that the country’s gross domestic product grew 5.2 percent. Some…

China Scraps Premier’s Annual News Conference in Surprise Move

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China’s premier will no longer hold a news conference after the country’s annual legislative meeting, Beijing announced on Monday, ending a three-decades-long practice that had been an exceedingly rare opportunity for journalists to interact with top Chinese leaders. The decision, announced a day before the opening of this year’s legislative conclave, was to many observers a sign of the country’s increasing information opacity, even as the government has declared its commitment to transparency and fostering a friendly business environment. It also reinforced how China’s top leader, Xi Jinping, has consolidated…

Dismissals Point to Xi JInping’s Quiet Shake-Up of China’s Military

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The expelled officials included some of the brightest rising stars in President Xi Jinping’s military: two generals who oversaw satellite launches and manned space missions; an admiral who helped entrench Beijing’s presence in the disputed South China Sea; and a missile commander who had honed China’s ability to respond to a possible nuclear war. They were among nine high-ranking Chinese military figures who were recently removed as delegates to the country’s Communist Party-run legislature, abruptly and without official explanation. Experts say the move indicates that Mr. Xi’s latest offensive to…

China Dismisses Defense Minister Amid Swirl of Speculation

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Just four months ago, China’s defense minister, Gen. Li Shangfu, was at a forum for regional officials in Singapore, serving as the face of his country’s bold vision for reshaping Asia’s balance of power. He cast China as a force for stability and accused the United States of stirring trouble in the region, suggesting that its leaders should “mind your own business.” Now, General Li has been dismissed after nearly two months out of public view — the latest example of China’s capricious rules of power under the strongman leader…

To Rein in China’s Banks, Xi Uses Familiar Playbook

Chin@Strategy

To a man with a hammer, a renowned psychologist once posited, everything looks like a nail. For most of his decade in power, Xi Jinping, China’s leader, has usually arrived at the same conclusion for how best to deal with the country’s issues: get the Communist Party more involved. And now, as China is confronting an economy lacking the dynamism of the past and teetering from a real estate sector in crisis and local governments overrun with debt, Mr. Xi is again wielding his hammer. At the annual gathering of…

China’s New Premier Needs to Revive Growth. How Far Will Loyalty Get Him?

Chin@Strategy

Before Li Qiang was appointed China’s No. 2 leader this past week, he oversaw Shanghai, a city that, for a time early last year, was celebrated for trying to contain Covid with relative restraint. City officials wanted to avoid the economic devastation of a full-scale lockdown and instead opted for limited restrictions that applied to, in one instance, a single milk tea shop. But as cases spread, the central government in Beijing intervened. Suddenly, the pragmatism and business-friendly character that had long defined Shanghai’s spirit gave way to “zero Covid,”…

Xi Jinping Picks Team to Work Under Him for the Next Five Years

Chin@Strategy

China’s top leader, Xi Jinping, was confirmed to a norm-breaking third term as state president on Friday, further formalizing his position as China’s most dominant leader in decades. The announcement was no surprise: Mr. Xi oversaw the abolition of presidential term limits in 2018, and in October he secured a third term as head of the Chinese Communist Party, the position from which his real authority derives. Now, as the annual meeting of China’s rubber-stamp legislature concludes in the coming days, many of his loyalists are being elevated to the…