China wraps up national congress with eye on sagging economy
Al JazeeraMAR 2024
China Wraps Up Annual Two Sessions
Image copyright: Kevin Freyer/Stringer/Getty Images News via Getty Images
The Spin
Pro-China narrative
The National People's Congress has made significant efforts to persuade international investors that China is a safe place to invest, and that China's overarching economic plan — which prioritizes high-quality development — is sound. Beijing intends to open up more sectors to international enterprises and remove market access limitations on foreign investment in manufacturing. The Chinese government is dedicated to further stabilizing the economy and promoting growth.
Anti-China narrative
China is no longer the economic engine and powerhouse it once was. Beijing's economy faces numerous difficulties and is in desperate need of foreign investment. The Communist Party's decision to cancel the final news conference with China's premier demonstrates President XI's tighter hold over the Party and does not signal transparency. The Party wishes to present China as a safe investment destination. However, it is anything but. It is unlikely that foreign high-tech firms will line up, as Beijing anticipates.