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Chinese Communist Party: China is going to hold a meeting to prepare the outline of a five-year plan to boost the country’s economy. However, this meeting will be held behind closed doors and will be made public in about a week.
Chinese Communist Party : President Xi Jinping and leaders of the ruling Communist Party will gather in Beijing from Monday to outline a five-year plan. The closed-door meeting is expected to last for four days and during this, a blueprint of the country’s economy for 2026-2030 will be prepared. These leaders are gathering in Beijing at a time when tensions over trade between China and America have reached their peak. The plan is going to be discussed ahead of a possible meeting between President Xi and President Trump during a regional summit later this month.
370 members will discuss with Xi
The Plenary Session represents the fourth of seven sessions held during the five-year term of the Central Committee of the Communist Party of China. It is being told that apart from Xi Jinping, 370 members can participate in it. This meeting may also be accompanied by personnel changes. Since it is being held behind closed doors, details may emerge after a few days or weeks. The purpose of such meetings is to unite officials and the public behind the party’s agenda so that powerful plans can be made. Meanwhile, Lin Song, chief economist for Greater China at ING Bank, said in an interview that there is no need to make any major changes in the format of the previous five-year plans. However, currently the people of the country have great expectations from China’s next five-year plan and are having serious discussions with the government.
China is facing a trade war
At the same time, according to the World Bank, the world’s largest economy is expected to grow at the rate of 4.8 percent this year. At present, China is facing a trade war and is also trying to respond to it strongly. Apart from this, China is also facing many domestic problems, which are affecting its growth pace. Xi Jinping will also highlight China’s efforts to become a global leader in several technologies such as Artificial Intelligence (AI). China’s technological self-reliance, freeing it from dependence on advanced computer chips coming from the US, has accelerated with Trump tightening US export measures and raising tariffs. Ning Zhang, a senior China economist at UBS, said this could result in more spending on advanced technology. Leah Fahy, China economist at Capital Economics, said a key question is whether there will be any meaningful change in the leadership’s approach to boosting consumption.
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