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Markets — Monetary Policy — Economics — China

Here’s What We Learned From China’s National People’s Congress

Chinese President Xi Jinping secured a third term and set a growth target of 5% for the year. US-China tensions, regulatory overhaul on display at event.

1 min read
  • Lawmakers unanimously voted to give Xi Jinping a third term as president, completing his ascension to supreme leader.
  • The government set a relatively conservative economic growth target of around 5% for the year.
  • Xi made a rare, direct criticism of the US, saying China’s economy was being hindered by “comprehensive containment and suppression by western countries led by the US over the past few years.”.
  • China will set up a financial regulator to oversee all sectors except the securities industry.
  • China will take forceful measures to support the development of high-end manufacturing.
Here’s What We Learned From China’s National People’s Congress
Chinese President Xi Jinping capped this year’s National People’s Congress by securing a third, norm-defying term in office and shaping some of the policies that will steer the world’s second-largest economy through the year ahead.
Bloomberg

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