Skip to Content Facebook Feature Image

Global observers eye China's "two sessions", hail blueprint for high-quality development

China

China

China

Global observers eye China's "two sessions", hail blueprint for high-quality development

2026-03-07 17:07 Last Updated At:19:27

International observers said they look to China's annual "two sessions" for insights into the country's future development blueprint, expecting high-quality growth and expanded opening-up to inject confidence into the global economy.

The "two sessions" are the annual meetings of China's top legislature, the National People's Congress (NPC), and the top political advisory body, the National Committee of the Chinese People's Political Consultative Conference (CPPCC). Both bodies serve a five-year term and hold a plenary session each year, generally in March.

The fourth session of the 14th NPC and the fourth session of the 14th National Committee of the CPPCC kicked off on Thursday and Wednesday, respectively.

Meira Hot, vice-president of the National Assembly of Slovenia, stressed the significance of this year's two sessions, which set the stage for China's 15th Five-Year Plan (2026-2030).

"This year's two sessions are especially important because they mark the beginning of China's 15th Five-Year Plan, a new stage of development at a time of global uncertainty. China will continue to focus on high-quality growth, technological innovation, green transformation and stable opening up. For the international community, the signal is stability and predictability," she said.

Others emphasized that the meetings are an opportunity to consolidate China's accomplishments.

"Under President Xi Jinping's leadership, China has made rapid advances in core technologies and the high-tech sector. The development of new quality productive forces has not only greatly enhanced the country's competitiveness but also benefited many countries, including Thailand. Chinese modernization is bringing greater certainty to world peace and development," said Wirun Phichaiwongphakdee, director of the Thailand-China Research Center of the Belt and Road Initiative (BRI).

Serik Korzhumbayev, editor-in-chief of Delovoy Kazakhstan newspaper, is covering the two sessions in Beijing. He said the meetings offered an excellent opportunity to witness China's future-oriented development strategy.

"The decisions made during the two sessions hold great significance for Central Asian countries. Like I said, China is our key partner. Many Chinese development initiatives, from infrastructure to digital economy, are directly linked to our bilateral cooperation under the Belt and Road framework. We are witnesses to the BRI's implementation. We do not merely discuss this initiative; we are practitioners of this historic endeavor, which creates opportunities for the development of all countries," he said.

Many said that against a backdrop of rising global uncertainty, China's steady progress in high-quality development demonstrates the country's sense of responsibility as a major country and injects valuable stability and certainty into the world.

"Of course, we follow the two sessions closely. I think the most important thing is that we can clearly see China's development trajectory for the coming years. This helps us progress together. For example, China has made huge leaps in robotics. Annual new energy vehicle production exceeds 16 million units. These are innovative achievements originating from China," said Peter Nussbaum, chairman of the IWS World Economic Council, an independent non-governmental organization based in Berlin, Germany.

Global observers eye China's "two sessions", hail blueprint for high-quality development

Global observers eye China's "two sessions", hail blueprint for high-quality development

Indonesia issued offshore bonds denominated in Chinese yuan, or dim sum bonds, totaling 9.25 billion yuan (about 1.34 billion U.S. dollars) in February, marking its second issuance of the yuan-denominated bonds.

The country issued the RMB bonds for the first time last October, with a total value of 6 billion yuan (about 870 million U.S. dollars).

The bonds were issued with maturities of three, five and 10 years.

Analysts point out that the competitive yield of RMB bonds will help Indonesia further optimize its financing structure and reduce capital costs against the backdrop of high global interest rates and rising financing costs in U.S. dollars.

"At the current situation, the global economies start to change and the financial sector is already evolving, also, and the RMB now is in the internationalization phase. So we see this is an opportunity for the Indonesian government to diversify and further lower the cost of funding," said Fakhrul Fulvian, chief economist and head of fixed income research with Trimegah Sekuritas, a company engaged in the brokerage and underwriting of securities.

"That demonstrates the depth, liquidity and attractiveness of Hong Kong's dim sum bond market, even for tenure as long as 10 years," said Handojo Wibawanto Soetikno, marketing director of Jakarta Branch of the Bank of China.

Dim sum bonds are RMB-denominated bonds issued outside the Chinese mainland, mainly in Hong Kong.

Indonesia issues RMB-denominated bonds of 9.25 billion yuan

Indonesia issues RMB-denominated bonds of 9.25 billion yuan

Recommended Articles