Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Breaking News

Gold Smashes Past $1,830 Wall in Inflation-Fueled Rally

Premier Li’s Annual Briefing; Hong Kong Decision: NPC Update

EconomyMar 10, 2021 09:27PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Premier Li’s Annual Briefing; Hong Kong Decision: NPC Update

(Bloomberg) --

China’s biggest political gathering of the year comes to a close Thursday, with the National People’s Congress expected to approve overhauls to Hong Kong’s electoral system and Premier Li Keqiang scheduled to hold his once-a-year news briefing.

The focus is likely to be on Li, whose annual press conference represents one of the rare occasions when a top leader of the world’s second-largest economy takes questions from the media. In past briefings, Li discussed everything from economic growth to financial markets. He’ll probably take the stage shortly after the NPC’s 3 p.m. closing session.

This year’s NPC gathering — condensed into half its usual two-week length due to coronavirus restrictions — showcased President Xi Jinping’s confidence after China emerged from the pandemic as the only major economy to expand in 2020. Over the past week, the government has laid out ambitious plans to overtake the U.S. in research-and-development investment and shift its capital-intensive growth model toward services and consumer spending.

What to Know:

  • Click here for more coverage of this year’s NPC
  • Full Reports from the NPC: Work on Legislative Affairs; Top Court
  • A QuickTake explainer on the NPC
  • Five-Year Plan by the Numbers
  • Bloomberg Intelligence reacts to GDP; policy implications for banks
  • A look at China’s green goals

Upcoming Events: Closing Ceremony, Premier Briefing

  • 3 p.m.: NPC closing session. Delegates will vote on work reports, 14th Five-Year Plan, and other legislative revisions including decision on overhaul of Hong Kong’s electoral system
  • After closing session — Premier Li Keqiang to speak to reporters

Latest developments: (Time-stamps are local time in Beijing)

Today’s Only Story (9:04 a.m.)

In case there was any doubt of its importance, the front pages of China’s major financial newspapers were plastered with stories about the annual political event. Also unsurprising was the positive tone of the coverage.

Killjoy Stocks (8:41 a.m.)

For the first time in many years, China’s stock market is set to upstage the NPC despite initial efforts from officials to blank out the tumult in equities. The CSI 300 Index has lost more than 5% during the NPC gathering, on pace for its worst performance during the annual event since 2008, when stocks crashed almost 20%.

Chinese media appealed for calm among investors in a front-page commentary, after state-backed funds were said to buy stocks this week to limit the turmoil. Even the government appeared to ban the words “stock market” from searches on social media.

Chinese stocks opened up on Thursday, though still down for the duration of the event.

©2021 Bloomberg L.P.

Premier Li’s Annual Briefing; Hong Kong Decision: NPC Update
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Simon Liu
Simon Liu Mar 11, 2021 5:19AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
If every country is focusing on the HAPPINESS and development of its people, instead of pointing fingers to the others, the world will be much better.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email