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China's biggest political event takes place from Mar. 4th, ratifying 14th five-year-plan Updated: 2021-03-04 14:00:02 KST


China's top political advisory and legislative bodies are opening their annual meetings today and tomorrow.
Known as the "Two Sessions", the gathering of the Chinese People's Political Consultative Conference and the National People's Congress are known to be a window into the government's priorities and plans for the year ahead.
What makes this year's event more important is that they will mark the beginning of China's next five-year plan, the country's blueprint for economic development.
The 14th five-year-plan will formalize the so-called "dual circulation policy".
It intends to make domestic consumption the driver of economic growth, and encourage self-reliance in the hi-tech sector.
The plan will also continue to improve China's manufacturing capabilities and work towards building a "moderately prosperous" society by 2035.

A GDP growth target for the coming year is to be another major focus.
However, it remains unclear whether details of the target will be released.
The country skipped its decades-long practice of setting an economic growth target last year over the growing economic uncertainty amid the coronavirus pandemic.
Last year, China's GDP rose two.three percent, becoming the only major economy to grow.
The CPPCC will hold the annual session until next Wednesday, while that of the NPC is expected to last around 10 days.
SEO Eunkyung, Arirang News.

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