BEIJING – The annual meetings of the National People’s Congress (NPC) and the top political advisory body – known as Two Sessions or lianghui – ended on March 11.

Here is a recap of what made the headlines at China’s most important political event of the year. 

Ambitious growth target

China set a growth target of around 5 per cent for 2024. This is the same as for 2023, but is widely viewed as ambitious amid significant challenges facing the economy – from an ailing property sector to growing youth unemployment and simmering geopolitical tensions.

The country met its target in 2023 with 5.2 per cent growth.

Premier no longer meets the press

In a surprise announcement on March 4, NPC spokesman Lou Qinjian said that the premier will no longer hold a press conference at the close of lianghui.

The 30-year-old annual tradition, made popular by former premier Zhu Rongji, was a rare opportunity for journalists to pose questions directly to a top leader.

Tough talk on the US

Foreign Minister Wang Yi said that the United States has not fulfilled its promises to not suppress China’s development. This is despite an improvement in bilateral ties since Chinese President Xi Jinping met his US counterpart Joe Biden in November 2023.

Both countries have been embroiled in great power competition in recent years, including on trade and technology.

New economic buzzword

Premier Li Qiang said in his government’s work report that developing “new quality productive forces” was the first major task for 2024. This refers to the use of innovation and industrial upgrading to create new engines of economic growth.

The term was introduced in September 2023 by President Xi during an inspection trip to Heilongjiang province in north-eastern China.

Law on China’s Cabinet revised

The NPC passed revisions to the State Council Organic Law – the first amendment since it was introduced in 1982 – to clarify the duties of Cabinet members. The State Council must now also “uphold the leadership of the Communist Party of China” as party control over state organs is further entrenched. 

Steady defence spending

The military budget will increase 7.2 per cent in 2024 – the same as in 2023 – amid a continued drive to modernise the People’s Liberation Army and ramp up pressure on self-governing Taiwan, which China views as its own territory.

The Chinese government has mostly announced increases of about 7 per cent in the annual defence budget in the last decade.