The first cancellation in three decades of the only annual press conference of the Prime Minister and head of the Chinese economy, Li Qiang, within the framework of the Legislative meeting this week shakes up the agenda of the most important event of the year in a turbulent economic context in the Asian power.
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The spokesperson of the National People's Congress (ANP, Legislative) Lou Qinjian surprised this Monday by announcing that Li, a confidant of the country's president, Xi Jinping, will not offer the traditional annual press conference at the close of the plenary session of the organization, which opens tomorrow, Tuesday.
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Li did attend to the media last year, just after his appointment as prime minister of the Asian giant, following an annual custom that dated back to 1993.
Lou argued this Monday that Li will no longer submit to reporters' questions because “he already outlined the main lines of his mandate last year, upon taking office.”.
According to the spokesperson, the prime minister will present the Government's work report tomorrow, Tuesday, which, together with the planning and budget reports of the National Development and Reform Commission (the country's main planning body) and the Ministry of Finance, ” will respond to the main social concerns”.
It fades like this one of the few occasions in which the Chinese chief executive answers questions from journalistsalthough these are agreed in advance, at a time when investors and analysts expected more clarity about the country's economic roadmap for this year.
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The prime minister's appearance will be divided into two press conferences on economic issues and “sustenance of the population” that will be led by two lower-ranking senior officials whose identity has not yet been disclosed.
The role and status of the prime minister has been adapted accordingly. It is also a reflection of Li's pragmatism, which is more focused on political leadership.
Wang Xiangwei, former editor-in-chief of the Hong Kong newspaper South China Morning Post, explains to that medium that The measure illustrates the new role of the Executive as a simple “executor” of the decisions of the Communist Party (CCP).
“The role and status of the prime minister has been adapted accordingly. It is also a reflection of Li's pragmatism, which is more focused on political direction. He thinks ministers are in a better position to give details,” he adds.
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Other analysts cited by the newspaper assure that Li's non-appearance implies “a change in the power dynamics”, where the prime minister has a lower profile, although it may be “a missed opportunity for China to explain itself” and a risk. because “it will increase the perception of its lack of transparency.”
Stimulus measures?
At the opening of the session, Li will announce China's growth forecasts for 2024 after having grown by 5.2% in 2023, meeting the official objective set by the authorities but in a context of slowdown after the setback in the real estate sector , deflationary pressures, sluggish domestic consumption and weak foreign demand.
For analysts, The most important thing will be to know what stimulus tools the Executive would be willing to use.
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According to a recent survey of experts carried out by the Yicai news portal, China will set its growth target at 5%, something that, for Huang Wentao, chief economist at China Securities, will help “improve expectations and boost confidence.”
Other experts, such as Luo Zhiheng, believe that such a goal “could alleviate negative trends in the real economy, recent collapses in capital markets and social anxiety.”
Nevertheless, the ease of achieving a 5% growth rate will not be the same as last year due to the comparative base effectsince in 2022 the GDP of the world's second largest economy had only grown by 3% due to the harsh restrictions within the framework of the 'zero covid' policy.
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On the other hand, the ANP will also address other issues such as the Defense budget in the midst of tensions in the South China Sea and the focus on Taiwan, or an amendment to the state secrets law, which comes after several investigations. against foreign consultancies that operate in the country, sowing concern in the sector.
All this while the CCP continues to sharpen its campaign against corruption promoted years ago by Xiwho strengthened his power at the head of the country during the XX Congress that held the formation in 2022.
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There had also been speculation that the ANP could appoint a new Foreign Minister, but, according to the state agency Xinhua, “there will be no personnel changes” in this year's session, in which the current portfolio holder, Wang Yi, does hold a press conference during the week.
EFE
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