The annual meetings of two of China’s top political bodies will commence from today.
The fifth session of the 13th National Committee of the Chinese People’s Political Consultative Conference (CPPCC) will convene today, 4th March and the fifth session of the 13th National People’s Congress (NPC) will convene on Saturday, 5th March. They are expected to continue until March 10 and 11. The Two Sessions are particularly significant as they are the only fixed annual meetings of these two political bodies. The economic and legislative decisions made at these meetings will provide a roadmap for China’s economic and social development in 2022. Amid growing economic uncertainty, a continued fight against COVID-19, and a complex international landscape, the “Two Sessions” meetings of the National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC) will discuss and legislate on important issues.
The CPPCC is a consultative body that includes over 2,000 members from various aspects of Chinese society, ranging from business entrepreneurs to movie stars. The NPC is China’s top legislative body. One of the most anticipated outcomes of the Two Sessions will be China’s 2022 GDP target. This will be revealed through the State Council’s Government Work Report presented by Premier Li Keqiang, which the NPC will decide upon when it convenes on March 5. With the outbreak of the Russia-Ukraine war, another element of uncertainty is added and could further slow economic growth.
Last year, China’s economy saw a strong rebound despite sporadic epidemic resurgences and a complicated external environment, with its GDP expanding 8.1 percent year on year to about 18 trillion U.S. dollars. However, there are reports of economic slowdown owing to the tough Zero-COVID policy which led to decline in demand and consumption.
