March 2024 | As expected, this year's 'Two Sessions' didn't bring any major surprises in terms of policy. Amid a weak economy, a shrinking real estate sector and ongoing 'de-risking' tendencies, it focused strongly on economic issues, with the new concept of "new quality productive forces" featuring central in several of the meetings, underlining the urgency Beijing attaches to industrial upgrading.
To achieve the ambitious goal of "around 5%" GDP growth as announced by Premier Li Qiang as he presented the Government Work Report at the outset of the NPC, Beijing among other things vows to strengthen its fiscal stance in 2024. New measures have also been announced to stimulate consumption and reinvigorate market confidence.
How will these priorities and policy adjustments shape the business context in 2024? Check out how we assess this year's key policy gathering and their impact for foreign business.
Check out our CMG Primer Two Sessions 2024 - Strengthening proactive and better coordinated economic policy
