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China’s top political advisory body, the National Committee of the Chinese People’s Political Consultative Conference (CPPCC), has commenced its annual session in Beijing. This event marks the beginning of China’s most significant political gathering, known as the Two Sessions.
The Two Sessions bring together thousands of delegates from across the country to discuss and set the nation’s agenda for the coming year. Key topics often include economic strategies, social policies, and national development plans.
In an exclusive interview with CGTN, Zhu Haibin, Chief China Economist at J.P. Morgan, shared his insights on the anticipated policy measures to bolster domestic demand and consumption. He emphasized that further policy support is expected to stimulate the economy, with a focus on increasing consumer spending.
“We anticipate a comprehensive consumption policy package that will be more substantial than in previous years,” Zhu stated. “These policies aim to enhance domestic demand, which is crucial for sustainable economic growth.”
Zhu highlighted that strengthening consumption is vital for China’s economic recovery, especially in the wake of global economic uncertainties. “Boosting domestic consumption not only supports immediate economic activity but also lays a foundation for long-term growth,” he added.
The insights from experts like Zhu underscore the importance of the Two Sessions in shaping China’s economic policies. As the sessions continue, observers worldwide are watching closely for decisions that will impact not only China but also the global economy.
