China keeps growth target at 6.5%... while 'Two Sessions' set to clear way for Xi era
- 6 years ago
China's National People's Congress opened its annual parliamentary sessions on Monday.
It has pledged to boost defense spending this year, while keeping its economic growth target at six-point-five percent.
And the legislators cheered the unlimited rule for President Xi Jinping.
Kwon Jang-ho reports.
The second of the 'two sessions', or 'Liang Hui' gathernig opened on Monday. Premier Li Keqiang began by announcing the government's economic growth target for the upcoming year.
Beijing has decided to maintain its growth target at around six-point-five percent for a second year running.
That comes despite the country's economy exceeding expectations last year, hitting 6-point-NINE percent growth.
The conservative target is seen as a signal that the government is trying to rein in the nation's spending, reduce debt and improve overall financial stability.
"We must remain committed to the general principle of pursuing progress while ensuring stability and to the new development philosophy. ... We must guide and stabilize expectations, improve living standards, and promote sustained, healthy economic and social development."
However, economic issues at this year's gathering have been overshadowed by political ones.
Last month, Beijing announced that it would be scrapping its two-term presidential limit, clearing the way for Xi Jinping to stay in office beyond the end of his second term in 2023.
That decision is expected to be ratified during the course of the 'two sessions' over the next 10 days or so.
The president's political philosophy, known simply as 'Xi Jinping Thought', is also expected to be integrated into China's constitution.
These moves essentially elevate Xi to the same level as China's first communist leader, Mao Zedong, and although it has caused alarm in some circles, the 'two sessions' is largely seen as a rubber-stamping ceremony, with little objection raised by the 5-thousand-or-so delegates attending.
"If a good leader comes into power, we should let him remain in that leadership position forever. In this way, there is continuity. It's great "
"This is the choice of history. This is the choice of the Chinese people. It's what the Chinese revolutionary cause needs. I really support it."
The ending of term-limits and other proposed policies will be put to the vote on Sunday.
Kwon Jang-ho, Arirang News.
It has pledged to boost defense spending this year, while keeping its economic growth target at six-point-five percent.
And the legislators cheered the unlimited rule for President Xi Jinping.
Kwon Jang-ho reports.
The second of the 'two sessions', or 'Liang Hui' gathernig opened on Monday. Premier Li Keqiang began by announcing the government's economic growth target for the upcoming year.
Beijing has decided to maintain its growth target at around six-point-five percent for a second year running.
That comes despite the country's economy exceeding expectations last year, hitting 6-point-NINE percent growth.
The conservative target is seen as a signal that the government is trying to rein in the nation's spending, reduce debt and improve overall financial stability.
"We must remain committed to the general principle of pursuing progress while ensuring stability and to the new development philosophy. ... We must guide and stabilize expectations, improve living standards, and promote sustained, healthy economic and social development."
However, economic issues at this year's gathering have been overshadowed by political ones.
Last month, Beijing announced that it would be scrapping its two-term presidential limit, clearing the way for Xi Jinping to stay in office beyond the end of his second term in 2023.
That decision is expected to be ratified during the course of the 'two sessions' over the next 10 days or so.
The president's political philosophy, known simply as 'Xi Jinping Thought', is also expected to be integrated into China's constitution.
These moves essentially elevate Xi to the same level as China's first communist leader, Mao Zedong, and although it has caused alarm in some circles, the 'two sessions' is largely seen as a rubber-stamping ceremony, with little objection raised by the 5-thousand-or-so delegates attending.
"If a good leader comes into power, we should let him remain in that leadership position forever. In this way, there is continuity. It's great "
"This is the choice of history. This is the choice of the Chinese people. It's what the Chinese revolutionary cause needs. I really support it."
The ending of term-limits and other proposed policies will be put to the vote on Sunday.
Kwon Jang-ho, Arirang News.