Trending Now - China Prioritizes Public Welfare in New Five-year Plan Amid Corruption Issues
WHO:
President Xi Jinping, leader of China
Premier Li Qiang, expected to outline key growth targets
Steve Tsang, director of the SOAS China Institute
Sarah Tan, Moody's Analytics
Alexander Davey, analyst at the Mercator Institute for China Studies
Eswar Prasad, professor of economics and trade policy at Cornell University
Leah Fahy, China economist at Capital Economics
Drew Thompson, former US defense official
Ma Liang, professor at Peking University's School of Government
Tao Xidong, researcher at the Shanghai Academy of Social Sciences
Gen. Zhang Youxia, highest-ranking military member just below Xi
Zhou Yongkang, former member of the Politburo Standing Committee
WHAT:
China's leaders are gathering for the annual Two Sessions political meeting in Beijing.
The 15th Five-Year Plan (2026-2030) will be released.
China's economy expanded by 5% in 2025.
Analysts expect the 2026 growth target to be set between 4.5% and 5%.
14 provinces have reduced their GDP targets compared to 2025.
China reported a $1.2 trillion trade surplus in 2025.
Over 983,000 people were punished for graft in 2025.
65 high-ranking officials were detained for corruption in 2025.
More than 16% of young Chinese are unemployed.
12.7 million graduates are entering the job market in 2026.
Home prices in China are down 20% or more from 2021.
WHERE:
Beijing, China (Great Hall of the People)
Jiangsu province, China
Qinghai province, China
Guangdong province, China
Shenyang, Liaoning province, China
WHEN:
The Two Sessions begin on March 4, 2026.
The National People's Congress will open on March 5, 2026.
The 15th Five-Year Plan draft was submitted on March 5, 2026.
The downturn in the housing market began several years ago.
The anti-corruption campaign was declared an "overwhelming victory" in 2018.
WHY:
The meeting aims to address challenges such as sluggish consumption, a shrinking population, and geopolitical shifts.
The economic model must shift towards consumption-based growth due to factors like deflation and youth unemployment.
The focus on public welfare is to improve social security and well-being for residents.
HOW:
The Two Sessions serve as a platform for discussing national policies and laws.
The government is expected to provide subsidies and support for high-tech and strategic industries.
Measures to strengthen social safety nets and boost incomes are anticipated.
The anti-corruption campaign has involved investigations and prosecutions of high-ranking officials.
China's leaders are currently convening in Beijing for the annual Two Sessions political meeting, which began yesterday and includes the release of the 15th Five-Year Plan for 2026 to 2030. Analysts expect the growth target for 2026 to be set between 4.5% and 5%, as the country grapples with challenges like sluggish consumption and high youth unemployment, with over 12 million graduates entering the job market this year. The meeting will also address the ongoing anti-corruption campaign, which has seen significant actions against high-ranking officials, while the government is anticipated to announce measures to bolster social safety nets and support for key industries.