A member of the Chinese People's Liberation Army (PLA) stands guard in front of the National Museum of China in Beijing on March 3, 2025, as preparations are underway for the country's annual legislative meetings known as the 'Two Sessions.'
The capital city of Beijing is poised to host a significant political event where China's top policymakers will reveal growth targets and stimulus strategies for the year. The annual parliamentary sessions commence on Wednesday and are commonly referred to as the 'Two Sessions.' This includes a consultative congress set to begin later in the day, followed by the National People's Congress opening on Thursday.
Chinese Premier Li Qiang is anticipated to unveil a series of economic objectives that have primarily been determined during a December meeting. The discussions during this year's Two Sessions are also expected to highlight the country's forthcoming five-year development plan, marking the 15th of its kind in China's modern timeline. Investors are keen to decipher Beijing's strategies for achieving its domestic technology goals.
The objectives laid out will serve as a crucial step towards China's 2035 ambitions, particularly in achieving technological self-reliance. During the event, high-ranking Chinese leaders including esteemed diplomat Wang Yi and prominent figures from economic and financial ministries traditionally engage with the media.
Typically spanning about a week, the Two Sessions is set to conclude on March 11 this year. Analysts from the Asia Society have observed a decrease in delegate attendance, attributing it to China's ongoing anti-corruption initiative.
As the economic landscape awaits new directives, here's what economists are speculating that Premier Li will announce on Thursday: