China's Two Sessions - A peek into China by 2025 - week 35 of Pascal's China Lens

Title: China's Two Sessions - A peek into China by 2025
Website: https://www.pascalcoppens.com/

CONTENT: In this video the goals of the annual two sessions of 2021 are explained and what they mean for China's economic development, technology, societal goals including urbanisation, healthcare and environment as well as Belt & Road and Military plans. Hong Kong is also covered as one of the main decisions of the sessions.

TRANSCRIPT
So the Two Sessions, every year in Beijing around March, just ended this week.
It ended on the 11th of March and this is extremely interesting for anyone who's watching China.
For everybody else it's kind of boring because you feel like nothing's really happening,
they're just all voting to agree on laws and that's kind of what it is but behind the scenes actually a lot of things are happening.
The NPC which is the National People's Congress is actually creating these laws and voting these laws.
But when you look at the CPPCC that is a consultative party that is not just politicians,
there are movie stars, people from minorities, a lot of people from everywhere,
even entrepreneurs like Pony Ma from Tencent.
They're all giving their ideas and suggestions and this will be created in the next Two Sessions the year after, as a law.
The whole idea is to create in those Two Sessions,
during about 10 days but this time it was seven days because of the Covid-19 crisis of course,
they want to create these laws and create these goals and intentions for China for the next years to come.
If you look at the last five years, it's good to look back and how they've achieved their goals has really been impressive.
The most impressive one is of course, that the GDP is now at 100 trillion renminbi or yuan
which is about 15.4 trillion US dollars, which is bigger than the eurozone.
It's still a little bit below the 18 trillion of Europe and of course below the 21 trillion of the US
but this decade China could catch up with the US
so a very big statement that they achieved this goal.
The other thing is they've eradicated poverty with 55 million people that were still left in extreme poverty five years ago.
They're all gone and so there is no more extreme poverty in China.
There are other things like 60 million people that got new jobs over the past five years.
Then there's 1.3 billion people, 90% of the people that now have health insurance.
So all these targets are the kind of targets that China every year is putting for the next year.
Specifically for the five year plan this is very important
because after five years they want to review, did we achieve it or did we not achieve it?
And it looks really really good looking back.
Now, what's going to happen in the next five years?
Well the 14 five year plan has been started to get analyzed in 2019
Last year it was not in March, it was in May because of the coronavirus of course.
And then later on it has all been put in a kind of formulation or forms that they write down on what they want to achieve,
then they communicate this, they test it and ultimately last week, it got voted and it got agreed.
That's what's going to happen in the next five years and the work has to start right now.
So in the next five years, there's a lot of work that is going to happen.
The words to remember for the next five year plan is 'dual circulation'.
I made a video about that somewhere a few weeks ago so you can check that again.
High quality development, very important, so it's not about quantity anymore.
GDP growth is important but it's about quality now.
Innovation is central to everything in the next five years.
Modernization that reforms state-owned enterprises but also creating a modern society with consumers
that create this economic growth and then having a sustainable environment and sustainable society.
These are all the words that are really important to remember when it comes to the next five years.
If they achieve in the next five years what they did in last five years,
I think we will have a real challenge with China coming up
because they will be extremely sustainable powerful and even modern and open.
Now a slide that I wanted to show is one from the Global Times, one of the state media of China,
which shows the eight different major targets that China wants to achieve in five years from now.
I put some words next to it so it's more clear.
This is about economy, it's about technology, it's about job creation, it's about consumption
because that's very important this consumption, it's about healthcare, it's about the environment,
of course the trade and international and ultimately military is also on the list.
KEYWORDS

Pascal Coppens, China, innovation, trends, keynote, speaker, public speaker,
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