Overview

• China's annual 'two sessions' meetings began with the advisory Chinese People’s Political Consultative Conference on Tuesday, followed by the National People’s Congress on Wednesday.
• Premier Li Qiang announced a 5% GDP growth target for 2025, signaling cautious optimism in the face of economic challenges and global tensions.
• China's military budget is set to increase by 7.2%, reflecting heightened geopolitical concerns and a focus on national security.
• Economic stabilization measures, including plans to attract foreign investment and address domestic economic pressures, are key priorities for the sessions.
• The meetings also feature Hong Kong representatives participating under the Basic Law, highlighting the city’s role in national policy discussions.