China wraps up national congress with eye on sagging economy
Al Jazeera
The world’s second-largest economy is facing challenges, including an ailing housing market and weak domestic demand.
China’s leaders are wrapping up a weeklong key conclave at which they admitted more was needed to revive a sluggish economy battered by an ailing housing market, poor domestic demand and record-high youth unemployment figures.
Top officials have been upfront about the myriad challenges China is facing, admitting that a modest 5 percent growth goal will not be easy and that “hidden risks” are dragging the economy down.
But details of how they plan to tackle the problems have been scant. They have also simultaneously moved to deepen powers to deal with threats to their rule and tightened a veil of secrecy around policymaking, scrapping a traditional annual news conference and promising to include national security provisions into a raft of new laws.
Monday morning saw lawmakers meet for more closed-door deliberations before a closing session and a vote by the National People’s Congress (NPC), China’s parliament, at 3pm (07:00 GMT).
Among the legislation voted on will be a revision to the Organic Law of the State Council, China’s cabinet, which state media have said will aim to deepen the “leadership” of the ruling Communist Party over the government.
