China's Two Sessions Unveil Economic Goals

China's ceremonial legislature, the China===National People s Congress, along with its advisory body, the China===Chinese People s Political Consultative Conference, are holding their annual 'Two Sessions' meeting in Beijing. During this event, China will unveil its policy direction and economic goals for the coming years, including details of the 15th five-year plan, which is expected to prioritize tech prowess and self-sufficiency. The Chinese economy is currently facing challenges such as high youth unemployment, weak housing prices, and sagging domestic consumption, compounded by a trade war with the United States. Experts predict China will likely lower its GDP growth target to a record low, signaling a shift from high-speed to high-quality growth. The meetings, under President Xi Jinping's rule, have become more of a showcase for propaganda rather than policy deliberation. Recent personnel changes, including the dismissal of 19 legislature members and the removal of senior generals from the People s Liberation Army, are also noted, though no new personnel announcements are expected at these sessions.