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On Saturday, China's Premier Li Keqiang presented his work report. The general focus of China's policy for the next twelve months is clear: more market economy and innovation with lower taxes. The focus is also on improving the education system. In addition, regions are to be assigned more budgetary responsibility, while the central government is to compensate for regional imbalances. Domestic consumption and international trade are to be strengthened in the meantime.
By Frank Sieren
Although China is showing great resilience, it has lowered its growth target to 5.5 percent. In times of war and sanctions, there are simply no winners. The strong tendency toward autarky at the current People's Congress is also bad news for German companies. The recently highly praised strategy of dual circulation, on the other hand, was not mentioned at all.
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China is increasing its military spending more than in previous years. This is because Beijing sees itself confronted with a tense neighborhood. But that does not stop China's leadership from making clear threats of its own.
By Michael Radunski