China will continue to adopt strict epidemic prevention and control measures, for example, most interviews will be conducted online.
One of the tasks of the National People’s Congress this year is to review the final version of the 14th Five-Year Plan. It is worth noting that the new five-year plan will, for the first time, have a dedicated chapter on science and technology, emphasizing that technological independence is the main pillar of China’s economic development. This marks a shift in focus to industry and national security, and a reduction in imports of technology products.
As the CCP prepares to celebrate the 100th anniversary of the founding of the party, the two sessions this year are particularly important. In addition to the 14th Five-Year Plan, the two sessions may also announce China’s economic long-term goals.
During Trump’s tenure, Sino-US relations have deteriorated rapidly, and now the two countries seek to restart their relations. China will be particularly cautious in disseminating political information, because any further international backlash may affect domestic economic planning.
Malaysian “Star” article on March 2, original title: China’s two sessions, Beijing will show its economic confidence and demonstrate how it hopes to achieve the new goals
China was the only major economy that achieved positive growth last year, while the European and American economies were devastated by the epidemic. Some economists said that as the epidemic is brought under control and the new U.S. president takes office, Beijing hopes to increase market confidence in the future of China’s economy. The two meetings will highlight areas where China will present a positive image to the world, including industrial plans to reduce carbon emissions, finance and Economic opening, measures aimed at low-income groups, etc.
The rapid economic recovery has greatly increased the confidence of Chinese senior policymakers (and the public). Some analysts even believe that China will surpass the United States to become the world’s largest economy in 2028 due to the very different recovery from the epidemic between China and the United States.
“Japan Times” article on March 2, original title: China is carrying out a technological revolution and reducing its dependence on the West. In the eyes of American politicians, the potential of China to dominate sensitive and cutting-edge technologies is the biggest geopolitical threat in the future. Beijing is also worried that the United States will obstruct China’s rise, and will announce plans to increase technological autonomy this week. The annual meeting of the Chinese legislature will review a new five-year blueprint to reduce the dependence of key components such as computer chips on the West, while vigorously developing emerging technologies from hydrogen vehicles to biotechnology.
Barry Norton, a professor at the University of California, San Diego, said: “The most important thing is that (China) is very ambitious—bigger than anything that Japan, South Korea, or the United States has done. It is the ambition to push the economy to a technological revolution.
The race for the most advanced technology has caused tensions between the United States and China. Both countries now aim to achieve autonomy in strategic areas. For Beijing leaders, this is not only about improving the lives of China’s 1.4 billion people, but also showing that the party can play a successful role in guiding the economy, especially after the Trump administration tried to suppress China’s leading technology companies.
With waning of the efficacy of the original economic model, China’s attention to science and technology has become more urgent. It must use technology to improve production efficiency in order to achieve ambitious economic goals. Global investors are paying close attention to the two sessions of China.