{"id":2099,"date":"2016-03-11T10:55:15","date_gmt":"2016-03-11T09:55:15","guid":{"rendered":"http:\/\/blogg.lnu.se\/china-research\/?p=2099"},"modified":"2016-03-11T10:55:15","modified_gmt":"2016-03-11T09:55:15","slug":"china-no-significant-surprises-from-the-npc","status":"publish","type":"post","link":"https:\/\/blogg.lnu.se\/china-research\/?p=2099","title":{"rendered":"China \u2013 no significant surprises from the NPC"},"content":{"rendered":"

This year\u2019s National People\u2019s Congress (NPC) has come to an end \u2013 without revealing any major surprises. China\u2019s political leaders stressed that a lot of work has to be done in the forthcoming years. However, the economy is regarded as resilient, moving forward and still able to achieve a GDP-growth rate of at least <\/em>6.5 percent on average until 2020 (if we apply official GDP calculations in this context). This growth rate should be good enough \u2013 expressed in quite a humble way \u2013 \u201cto push China to a moderately prosperous society\u201d, according to the leadership of the Communist Party.<\/p>\n

Institutional improvements, innovation and more supply-side policy were also singled out with emphasis at the Congress. But I could not find any deepening details about the reform results so far related to the ambitious program from the Third Plenum in November 2013 (evaluation in 2020). This is certainly a shortcoming if my observation is correct. Actually, I could not find any interesting examples of improved transparency.<\/p>\n

One detail was striking me all the same: the acceptance of a higher budget deficit in 2016 (3 percent at the most compared to 2.3 percent in 2015). This was the message in the Chinese and international press. But I did not read any line about the fact that this number was aiming at the central government debt only \u2013 thus, excluding the much higher local debt ratio. One more example of insufficient transparency!<\/p>\n

\"\"<\/p>\n

Hubert Fromlet<\/em><\/strong>
\n<\/em>Senior Professor of International Economics, Linnaeus University
\nEditorial board<\/a><\/p>\n

 <\/p>\n

Back to Start Page<\/a>
\n<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

This year\u2019s National People\u2019s Congress (NPC) has come to an end \u2013 without revealing any major surprises. China\u2019s political leaders stressed that a lot of work has to be done in the forthcoming years. 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