China watcher Wang Xiangwei on how red tape is stifling growth and why Trump may bring calm
SCMP Plus . For other interviews in the Open Questions series, click
here
Advertisement
What can we expect from this year's '
two sessions '? How significant will it be in shaping the trajectory of China's development in the coming years?
When unveiling China's economic development plans each year, its leaders inevitably use the words 'momentous' and 'extraordinary', their favourite official catchwords, to describe challenges and opportunities for the past year and the year ahead.
The year 2025 is set to be 'momentous and extraordinary' in every sense of those two words.
We can expect liberal use of those adjectives in the high-sounding slogans at the coming two sessions, but whether China's leaders will follow up with concrete actions remains to be seen.
Advertisement
In other words, what we expect from the two sessions this year and what the government will deliver can be quite divergent if past experience is any guide.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
South China Morning Post
29 minutes ago
- South China Morning Post
In China's crippling price wars, an old law's revision seeks ‘sustainable equilibrium'
It has been a tumultuous couple of months for Alex Xu's company – a solar panel manufacturer based in eastern China's Zhejiang province – as product prices have surged by about 20 per cent. Long plagued by severe oversupply, China's photovoltaic industry is grappling with cutthroat price wars and even loss-making sales. From Xu's perspective, nearly half of the industry's capacity is excessive. But a rebound in prices has followed recent calls from Chinese authorities to combat 'involution', or neijuan – a buzzword referring to destructive competition that is often characterised by the aggressive slashing of prices – across various economic sectors. One significant government measure was the revision of the decades-old pricing law , which updated the definition of unfair pricing practices and strengthened measures to curb them. The amendment to the pricing law, drafted by the National Development and Reform Commission and the State Administration for Market Regulation, is open for public feedback until Saturday. This marks the law's first revision since its enactment in 1998 and has drawn widespread attention for targeting involution-style competition. 'Due to the nature of photovoltaic products, which lack significant differentiation in appearance and are highly homogenised, many customers focus solely on price rather than product details,' Xu said. 'This has led to pure price competition, resulting in substantial industry losses.' As his firm's deputy general manager, Xu supports tightening regulations on pricing.
The Standard
an hour ago
- The Standard
Wall Street closes down as investors brace for Powell's speech
Pop Mart to launch mini Labubu this week as it expects revenue to hit over 30 bln yuan this year
South China Morning Post
2 hours ago
- South China Morning Post
Beijing ‘stands firm' with New Delhi against ‘bully' US, Chinese envoy says
Beijing's top envoy in New Delhi on Thursday expressed strong support for India, citing the steep US tariffs imposed against the country, and called for 'teamwork' and 'collaboration' between the world's two most populous nations in standing up to the 'bully'. 'US imposed tariffs of up to 50 per cent on India. China firmly opposes it. Silence only emboldens the bully. China will firmly stand with India, uphold the multilateral trading system,' Ambassador Xu Feihong said. He said tariffs and trade wars are undermining the very free trade international system the US once benefited from, and accused Washington of wielding tariffs as a 'bargaining chip to demand exorbitant prices from various countries.' He made the remarks at the SCO Summit 2025: Resetting India-China Ties, organised by the Chintan Research Foundation, a New Delhi think tank. The rare show of solidarity comes against the backdrop of a turbulent global trade environment amid US President Donald Trump's aggressive tariff policies targeting both countries. Peter Navarro, a White House senior trade adviser, on Thursday slammed India as 'maharaja' of tariffs that has begun 'cozying up' to President Xi Jinping.
