International Finance

China discusses growth target and President’s indefinite term

China, Premier Li Keqiang, Xi Jinping
Addressing around 3,000 delegates at the ceremonial legislature in the Great Hall of the People, Premier Li Keqiang also discussed economic and military growths

Today, the Chinese leaders have pledged to deliver a strong annual economic growth, implement sophisticated technology and advance military spending.

The discussions about economic and technological advancements were held at a legislative session, where the proposed constitutional alteration allowing indefinite term to President Xi Jinping was also discussed.

Xi’s term was the dominant topic of discussion at the National People’s Congress (NPC).

Premier Li Keqiang in an almost two-hour speech did not specify anything about the abolition of term limits but emphasised the dominance of the President and the ruling Communist Party.

The Premier said: “Resolutely safeguard General Secretary Xi Jinping’s core status and the authority of the party’s central committee and its centralized and unified leadership.”

Warren Sun, a historian of the Chinese Communist Party at Australia’s Monash University, opined: “If it gets approved, you can describe his attempt to abolish term limits as really to make China medieval again, not to make China great again.”

For the annual growth, the Premier has set around 6.5% as the nation’s target. If the nation succeeds in achieving the target, it will be one of the strongest globally-achieved growths.

With China preparing to launch its second aircraft carrier, and develop stealth fighters and advanced missiles, the military spend will rise eight percent to US$173bn.

“We will stick to the Chinese path in strengthening our armed forces, advance all aspects of military training and war preparedness,” Li said.

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