The economic and political direction of the world’s second-biggest economy was revealed after the gathering of this month’s National People’s Congress, the annual legislative gathering where China’s rubber-stamp parliament approves policies from the ruling Communist Party. The weeklong annual parliamentary meetings ended on Monday (March 11).
The gathering is typically ceremonial in nature since the real power lies with the ruling Communist Party, which is currently headed by Xi Jinping, who is the party’s general secretary as well as the country’s president.
Here are the top takeaways from China’s National People’s Congress:
1. No big GDP targets: Beijing is targeting the gross domestic product growth of nearly 5 per cent for 2024, the same as last year. The Chinese economy faces several challenges such as a multi-layered downturn in the vast property market and persistent deflation.
2. No press briefing by the premier: A development that surprised many was the abrupt cancellation of Premier Li Qiang’s press conference at the close of the annual event. The tradition dates back several decades. Its absence underscores how the premier’s role has now been reduced under Xi Jinping.
Also watch | China scraps Premier Li Qiang’s briefing; Press conference in place since 1993
3. Repetition of ‘reunification’ stance: Li Qiang said that the current government in China will “be firm in advancing the cause of China’s reunification”, a euphemism for Taiwan’s purported inclusion into People’s Republic of China.
4. Increase in defence budget: The government of China announced an increase of 7.2 per cent in the country’s defence budget. China’s military budget now stands at 1.6 trillion yuan or $222 billion.
5. ‘National security’ an oft-repeated phrase: The Chinese communist party lawmakers moved to adopt wide-ranging security laws, saying that they will “resolutely safeguard” its sovereignty. This means an enhanced clampdown on dissenting views, especially the ones deemed detrimental to the perceived notions of sovereignty in China.
(With inputs from agencies)
