China's annual parliamentary meeting has ended. Here are the key takeaways
China's annual parliamentary meetings in Beijing with notable changes including environmental focus and economic growth targets.
- Bilawal Riaz
- 1 min read
China’s annual parliamentary meetings recently concluded in Beijing with notable changes this year. The Premier did not hold a press conference as per tradition, and President Xi Jinping did not speak at the closing ceremony. The meetings revealed a focus on environmental protection with a target to reduce energy consumption and a 2024 economic growth target of around 5%. The government prioritized industrial support, aiming to upgrade equipment and boost the market. Real estate received less attention, with warnings for developers who harm the public’s interests. The State Council’s structure was revised, granting more power to the Communist Party by including vice premiers and the head of the People’s Bank of China in its leadership group. The full impact of these changes remains unclear.