China focuses on consumer-led revival as legislature opens session

Published on

Advertisement

New Delhi : On Sunday, China’s legislature opened a session to tighten President Xi Jinping’s grip over the country’s business and society, with a focus on a consumer-led revival of the struggling economy. Premier Li Keqiang, the top economic official, set this year’s growth target at “around 5%” following the lifting of anti-virus controls that kept millions of people at home, which led to protests. China’s economy, the world’s second-largest, grew by only 3% last year, the second-weakest level since at least the 1970s. In a speech on government plans, Li stated, “We should give priority to the recovery and expansion of consumption.” The NPC is set to endorse a new government, with Xi loyalists including a new premier, after the president was awarded a third five-year term as party general secretary in October. The new leadership team will face challenges ranging from weak global demand for exports and lingering U.S. tariff hikes in a feud over technology and security to curbs on access to Western processor chips due to security fears.

Latest articles

Delhi LIVE Updates: CJP Protest, Police Response, and Dipke’s Apology Explained

New Delhi: The CJP protest in Delhi has become a major topic of discussion...

Onestop – Your Home Store: Transforming Everyday Homes with Premium Quality Products, Innovation, and Lasting Customer Trust

Every home is more than just a place to live—it is where families create...

India’s Cockroach Movement Supporters Gather to Attempt March to Parliament

New Delhi — Hundreds of supporters of the fictional "Cockroach Movement" gathered in central...

Vikram-1 Reaches Orbit: Can Skyroot Turn a Historic Launch into a Sustainable Business?

Skyroot Aerospace has achieved a landmark moment for India's private space industry with the...
Advertisement
Advertisement