What should you know about the key policy announcements made at the National People’s Congress being held in Beijing? The 14th NPC began its annual session on Sunday. Main highlights on the economy side: ? Main Economic Policy highlights - A modest target set for economic growth this year of “around 5%” - China's science and technology policies continue to aim for building strength and self-reliance - Coal will remain a key to energy security - Defence spending is boosted by 7.2% this year - The country will guard against risks among property developers? - China will deepen financial reform - Last but not least, China will further open up to foreign investment ? NPC explained - The 3,000-member NPC is China's national legislature In principle NPC is the most powerful state body under the Chinese constitution - It meets annually to deliberate legislation and appoint government personnel - NPS also oversees the State Council, China's cabinet - NPC’s top body, the NPC Standing Committee, meets more frequently to pass legislation - This year, 2,977 nationwide delegates have been chosen to attend the NPC - 26.5% of delegates are women, a slight increase from last year, and about 15% are ethnic minorities, as reported by Xinhua Follow us for more China policy news and business insights! #china #news #business #policy
