The National People's Congress (NPC) and the Chinese People's Political Consultative Conference (CPPCC) - one of China's biggest political events in 2025 - have officially concluded.
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| Chinese President Xi Jinping and other Chinese leaders attend the closing session of the 14th CPPCC at the Great Hall of the People in Beijing, March 10. (Source: Xinhua) |
Taking place from March 4-10, this year's Two Sessions attracted the attention of the public, especially investors, because the contents of the Conference provided an overview and insight into China's political context, the country's important priorities and policy directions in the next 15th five-year plan.
Observers are also paying close attention to the Two Sessions in the context of major changes in the world after US President Donald Trump returned to the White House for his second term. According to Stephen Olson, a researcher at the ISEAS-Yusof Ishak Institute in Singapore, who participated in the US trade negotiation delegation, the Trump administration's announcement to impose an additional 10% tariff, up to a 20% tariff on all Chinese imports into the US market, on the opening day of the Two Sessions is "no different from a declaration of war against China".
"The world could see the biggest trade war in nearly 100 years, unless there is a last-minute reversal as is often the case with President Donald Trump," added Mr. Stephen Olson.
Looking for new growth drivers
Pushing ahead with reforms and achieving a growth target of around 5% per year in the current economic slowdown and US-China trade tensions is not easy. To effectively shift to a consumer economy, China will have to spend more to stimulate consumption and improve its social security system. Premier Li Qiang called for “making domestic demand a spearhead and the main driving force for economic growth.”
In his Work Report delivered at the Great Hall of the People on the first day of the National People's Congress (NPC), Premier Li Qiang affirmed the role of private sector enterprises in promoting strategic high-tech industries, private enterprises make great contributions to the economy, and are the core of the new quality production force. The private sector has made a strong impression with high-tech product lines in the renewable energy industry such as solar panels, electric vehicles, drones, and AI applications such as Huawei, Xiaomi, BYD, etc. In particular, the most recent breakthrough in artificial intelligence (AI) technology with the Deepseek chatbot software has attracted global attention and cutting-edge film technology with the animated film Natra 2 breaking all box office records with a revenue of over 2 billion USD.
DeepSeek's new AI system is not only a spectacular breakthrough in world AI technology, but also a turning point proving that China is a country with the potential and ability to take the lead in shaping the global power chessboard. Prioritizing technological innovation demonstrates China's determination to solve the development problem in the context of many unpredictable factors, and is also a breakthrough that opens a new direction to escape the competition and strategic restraint of the US. Speaking at a press conference on March 7, Director of the Office of the Foreign Affairs Commission of the Central Committee of the Communist Party of China, Foreign Minister Wang Yi expressed optimism about the US-China technology competition. Mr. Wang Yi said, "Where there is a blockade, there will be a breakthrough, where there is restraint, there will be innovation".
Earlier, on February 17, Chinese President Xi Jinping held an important meeting with Chinese businessmen, highlighting the role of private enterprises in ensuring high-quality and sustainable development in the context of complex geopolitical and geo-economic developments. According to the work report of the Standing Committee of the National People's Congress (NPC), China will develop a law to promote the private economic sector to enhance equal treatment and legal protection for the private sector, the draft law was submitted on March 7 for discussion before being passed.
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| Panorama of the Chinese People's Political Consultative Conference (CPPCC). (Source: Xinhua) |
Ready to respond
If at the Versailles Peace Conference in 1919, a weak China was rejected by the US and the West, now after more than 100 years, even President Trump or any US administration cannot ignore China's voice and interests. China's development model of "Socialism with Special Characteristics" under the leadership of the Communist Party of China, especially since the 3rd Plenum of the 11th Central Committee (1978), has made China the number 1 rival capable of challenging the US's world leadership position. China's gross domestic product in 2024 will reach 134.9 trillion yuan (equivalent to 19 trillion USD).
China's military spending in 2025 is expected to increase by 7.2 percent year-on-year. The defense spending is part of the annual budget plan submitted to the NPC. Official military spending is expected to reach 1.78 trillion yuan ($245 billion), leading the region. Premier Li Qiang stressed the importance of upgrading military strength "to firmly safeguard China's sovereignty, security and development interests," pledging to "fulfill the tasks" of modernizing and strengthening the military, "accelerate the implementation of major defense-related projects, and accelerate the development of network information systems."
However, China is also well aware that the US is the strongest opponent hindering the “Chinese dream”. Therefore, Beijing still directs the US to negotiate, avoids confrontation, and accommodates the demands of the Trump administration. Beijing’s publication of a White Paper on the opioid fentanyl and efforts to help the US contain the fentanyl crisis are examples. On the other hand, Chinese leaders also understand that the era of appeasement to win over the US for development is over, and China is ready for a new “game” with the US.
In December 2024, China’s Ministry of Commerce imposed a ban on exports of four key minerals mined in China to the United States, signaling Beijing’s willingness to escalate its response to tougher trade policies. China is ready to respond in kind, imposing an additional 15% tariff on US imports including chicken, pork, soybeans and beef, and expanding controls on doing business with key US companies.
Lou Qinjian, spokesman for the Two Sessions, warned that this would be a lose-lose battle. Earlier, speaking at a press conference on March 4, Chinese Foreign Ministry spokesman Lin Jian affirmed: "China will fight to the end if the US insists on waging a tariff war, a trade war or any other form of war."
Donald Trump's "America First" policy and moves to get closer to Russia are creating "strategic earthquakes" and China is looking to minimize the adverse impacts by gathering forces under a new banner, a new vision of China's new multilateralism.
Foreign Minister Wang Yi expressed concern if countries only act and pursue their own interests. Emphasizing the role of the United Nations and upholding the principles and purposes of the United Nations Charter, he condemned some opposing opinions on UN Resolution 2758 in 1971 to give Taiwan international legal status as “absurd and dangerous arguments” and “blatant violations of the authority of the United Nations and the post-World War II international order.” Foreign Minister Wang Yi asserted that “using Taiwan to contain China will only be a futile effort.”
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| China still wants the US to negotiate, avoid confrontation, and accommodate the demands of the Trump administration. (Source: Reuters) |
Foreign Minister Wang Yi affirmed that China is an "anchor of stability" in the context of global instability. He emphasized the contrasting picture between China's true multilateralism of harmony, inclusiveness, sharing opportunities and benefits, and serving humanity according to the ideology of "Thien ha vi cong" (World under public service), on the one hand, and the US's hegemony, bullying, and containment of "the strong bullying the weak" on the other.
China is ready to shoulder the mission of defending the foundations of a fair and equitable world order that is being challenged in the context. At the same time, it actively and proactively promotes China's vision, value system, ideology, culture and history in the process of multipolarization, affirming that China's foreign policy is not only about power, but also about the philosophy and soft power of public diplomacy.
Mr. Wang Yi highlighted the advantages of the Community of Shared Future for Humanity Initiative and China's global initiatives. Specifically, within the framework of the Global Governance Initiative on Artificial Intelligence, China has launched the "Open Science International Cooperation Initiative" with Brazil, South Africa and African countries, focusing on building scientific and technological capacity for the global South, leaving no country behind.
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Finding the driving force for development and promoting reform are still the biggest priorities in the agenda of the 2025 Two Sessions, which are specified in 10 key tasks to promote economic growth, maintain social stability, and create political prestige for Mr. Xi Jinping in the context of major fluctuations and disruptions in international geo-economics and geopolitics. It can be seen that good signals from high-tech breakthroughs such as Huawei, Deepseek... are creating momentum for the innovation of thinking and awareness of Chinese leaders about the role of private enterprises in the effort to enhance strategic competitiveness, and are ready in both position and strength for all situations, accepting the "challenge to the end" with the US. The country of a billion people has room to promote the role of a major country by gathering forces under a new flag, a new vision of China's new multilateralism.
* Institute for Strategic Studies, Diplomatic Academy
Source: https://baoquocte.vn/luong-hoi-trung-quoc-dot-pha-mo-duong-san-sang-cho-giai-doan-phat-trien-moi-307109.html
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