Takeaways of China’s 2023 Two Sessions

The first sessions of the 14th National People’s Congress (NPC) and the National Committee of the Chinese People’s Political Consultative Conference (CPPCC) were successfully held in Beijing from 4 to 13 March 2023. Policymakers specified 13 focus areas:

• Stabilising growth as a top priority for the year
• Boosting domestic demand as a key driver to economic growth
• Strengthening the modernisation of the industrial system
• Boosting market confidence and stimulating the vitality of the private sector
• Kicking-off a new round of state owned enterprises reform
• Facilitating high-level opening up to stabilise foreign trade and foreign investment
• Enhancing fundamental research to boost self-reliance and strength in science and technology
• Promoting green development to reach the “dual carbon” goals
• Further advancing the comprehensive registration-based system to improve the modern capital market with Chinese characteristics
• Preventing and mitigating major economic and financial risks
• Facilitating coordinated regional development
• Improving people’s well-being
• Implementing a new round of institutional reform of the State Council