“Chinese policymakers are expected to maintain last year’s growth target to signal confidence in growth stabilisation, and we expect a greater focus on boosting domestic demand this year. China’s Two Sessions annual meeting is a significant political and economic event that sets economic targets and outlines policy direction. Two Sessions to set this year’s key economic targets: China’s annual Two Sessions kicks off next week in Beijing, with the Chinese People’s Political Consultative Conference (CPPCC) set to open on 4 March and the National People’s Congress (NPC) set to open on 5 March. These meetings will take place over a week and will lay out China’s key policy priorities for the year. The main market focus will be the government work report delivered by Premier Li Qiang at the start of the NPC on 5 March, which will lay out China’s main quantitative targets for economic growth. The headline will undoubtedly be China’s GDP growth target, which we expect to remain unchanged at “around 5 pct.” again this year. We believe this target will signal confidence that China can maintain steady growth despite heightened external uncertainties.”
Morten W. Langer
