 "From Taiwan to Transparency: 7 Key Takeaways From China’s annual national congress")
The Chinese parliament– the National People’s Congress (NPC)– on Monday concluded its annual conclave in the Great Hall of the People in Tiananmen Square. Delegates to the rubber-stamp parliament gathered here to approve policies from the Xi Jinping-led Chinese Communist Party (CCP).
From the President’s move to concentrate more power into his hands, to the change in Beijing’s stance on Taiwan, here are seven key takeaways from the tightly choreographed event.
More power to Xi, CCP: The CCP now has greater executive control over China’s cabinet– the State Council– courtesy of the amended State Council Organic Law passed on Monday. Headed by Chinese Premier Li Qiang, the State Council nominally oversees the 21 government ministries in China.
Strong stance on Taiwan: Li’s report had stronger language on the island territory of Taiwan. He said that the government will “be firm in advancing the cause of China’s reunification.” This is a stronger stance compared to last year’s statement where Li had called for “advanc(ing) the process of China’s peaceful reunification.”
Bigger defence budget: The Chinese government announced a military budget of 1.6 trillion yuan or $222 billion– an increase of 7.2 per cent, in line with the jump noted last year. Although the country’s budget has more than doubled since 2015, in recent years, the rate of the increase has slowed down due to a slagging economy. This is also being seen in the light of China’s ambitions with Taiwan.
Transparency takes a hit: This year’s conclave closing marked a break from the three-decade-long tradition where the Premier, the CCP’s number 2 leader, holds a press conference. The conference was a rare platform for journalists to quiz the government. The move is being seen as a hit to transparency. It also underscores Premier Li’s relatively weak status as Xi consolidates power.
Impact Shorts
More ShortsUnder the garb of “national security”: Lawmakers in the country have moved to adopt wide-ranging security laws to “resolutely safeguard” China’s sovereignty. This means the Communist Party may soon deepen its powers to punish threats to its rule.
Modest economic growth: In this year’s economic blueprint, Li revealed plans to open up more areas of the economy to foreign investment. The manufacturing and service areas will also see a reduction in the number of restrictions. China is aiming for around 5 per cent GDP growth this year– a low number for what used to be the world’s fastest-growing economy.
No big bailouts for the beleaguered property sector: Beijing pledged to do more about the beleaguered real estate sector. However, authorities also hinted that there may not be any big bailouts. Housing and Urban-Rural Development Minister Ni Hong said, “regarding severely insolvent and financially unsustainable real estate companies, bankruptcies should be handled according to legal procedures, and reorganizations should be carried out as required.” He added that fixing the property market remained “very difficult”.
With inputs from agencies
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