That also means Xi is heavily under the spotlight as economic pain has sparked growing frustration within China. Xi has also overseen a political shakeup in his own ranks, further marring the start of the new term. But the two sessions provide an important platform for China’s notoriously opaque government to broadcast its strategy for economic, social and foreign policies and announce key indicators including China’s economic growth target, its budget deficit limit and military spending for the coming year. The announcement of the economic growth target for 2024, set to be delivered by Premier Li on Tuesday, is among the most important issues to watch during the two sessions. Analysts widely expect Li to reveal a relatively ambitious growth target of “around 5%,” showing that policymakers are still focused on economic growth, even as challenges pile up.

Source: CNN March 04, 2024 02:08 UTC