China’s Two Sessions: Insights into Communist Party’s Thinking
China’s top officials will hold an annual gathering next week, offering a rare window into the ruling Communist Party’s thinking as it tightens its grip in the face of dire economic headwinds.
Challenges Faced by China’s Lawmakers
From a protracted property crisis to waning domestic spending, China’s lawmakers face a litany of challenges as they hold their “Two Sessions.”
Focus on National Security Measures
The meetings are not expected to see the unveiling of big-ticket bailouts that experts say are needed to get the economy back on track. Instead, they will continue a path of “elevating national security measures on all fronts,” according to Ho-fung Hung, a professor of Political Economy at Johns Hopkins University.
Expectations for the Meetings
Smaller-scale investments in science and technology, as well as steps to lift China’s debt-battered property market, could be on the agenda. However, analysts do not expect major shifts on core economic issues.
Overview of the Two Sessions
Meticulously choreographed and staged over more than a week, the most important of the “Two Sessions” is the National People’s Congress (NPC), China’s legislature, beginning Tuesday in Beijing’s Great Hall of the People. The Chinese People’s Political Consultative Conference, the first of the sessions, begins on Monday but is generally overshadowed by the NPC.
Key Agenda Items
First on the agenda will be Premier Li Qiang’s announcement of China’s GDP growth goal for 2024 — broadly expected to remain around 5 percent. Beijing has been reluctant to confront economic pressures head-on with a major bailout, focusing instead on preventing increased economic risk and improving security.
Insights into China’s Rulers’ Concerns
The NPC serves as a crucial networking event, where powerful individuals from around China meet and discuss politics. While major decisions are made in closed-door meetings of the Communist Party, the topics up for discussion and the tone of the speeches provide key insights into what’s keeping China’s rulers up at night.
Focus on National Defense and Security
High among those worries are national defense and security. An increase in China’s military budget, which is second only to the United States, is also expected. Beijing’s recent actions, such as expanding the definition of espionage and conducting raids on consulting firms, reflect a focus on security measures.