Junni Park, China Advisor, Asia House Research, provides an assessment of this year’s ‘Two Sessions’ – China’s most important annual political meetings that set the policy agenda for the year ahead.
- The Chinese government will raise infrastructure spending and cut business tax to meet aggressive 2022 growth target of 5.5 per cent
- China’s efforts to decarbonise its energy sector will be dialled back in the short-term as the priority shifts to jobs and economic stability
- China’s long-term development strategy for 2022 has been predicated on security-oriented issues amid global uncertainty
China’s 2022 growth ambitions
The Two Sessions showed that security and geopolitics is only gaining more weight in shaping economic policy – perhaps unsurprisingly given current developments in Ukraine, supply chain disruption and the economic scarring from the COVID-19 crisis.
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