Movement of Tectonic Plates

In China, the “Two Sessions” kicked off, marking the end of a bidecadal reshuffling of the country’s most powerful positions.

After the landmark victory of the nation’s leader Xi Jinping at the 20th Congress of the ruling Communist Party in October 2022, he continues to consolidate power.

The two sessions in March 2023 include:
(1) meeting of the People’s Political Consultative Council of China (an advisory body that involves Chinese citizens in the discussion of the current agenda);
(2) a session of the National People’s Congress (China’s legislature), which will approve the leadership of the country, including the Chairman of the People’s Republic of China, a new premier, four new vice premiers, several state advisers, as well as a chief judge and a prosecutor.

China is now resuming its economic growth strategy after a three-year retreat and the chaos caused by the Covid-19 epidemic.

And China is doing this in the new conditions of an unprecedentedly tough confrontation with the Atlantic coalition led by Washington.

Attention is focused on China’s economic growth target for this year and on which sectors Beijing will prioritize efforts. After all, it is on this that the development or stagnation of the global economy now and forever depends.

The NPC session will confirm former Shanghai party boss Li Qiang as the new premier. Then his first press conference is expected.

The sessions will also feature a new lineup of ministerial personalities: finance minister, central bank governor, director of the National Development and Reform Commission, and trade minister, all of whom will be replaced. There will also be new faces on the diplomatic and defense fronts.

New Foreign Minister Qin Gang will hold his first press conference days after returning from the G20 foreign ministers’ meeting in Delhi. It is also expected that Qin will receive the additional title of state councilor, which will increase his status.

Beijing also intends to approve Li Shangfu as defense minister. It will be a sensation: Li Shangfu will be the first Chinese defense chief to be personally sanctioned by the United States.

The appointment will showcase a large symbolic spit across the ocean.

After the all-male Politburo was formed in October 2022, a lady, Shen Yiqin, will be appointed to the Chinese government. She will become the highest-ranking female official (state councilor) in decades.

Next to Chairman Xi Jinping, who is entering his third term, will be a new deputy, Han Zheng.

Over the past five years, Han has played a central role in promoting China’s landmark Belt and Road Initiative. He will have to multiply and consolidate what has been achieved.

In general, China expects a serious reformist “perestroika”. Earlier, Xi Jinping said that the “overhaul” will be aimed primarily at the country’s financial and technology sectors, and in general, the changes will have a “deep impact” on the Chinese economy, providing it with global leadership in the future.