China's top advisory body concludes annual session

The 14th National Committee of the Chinese People's Political Consultative Conference (CPPCC), China's top political advisory body, concluded its annual session on Wednesday morning.

Chinese President Xi Jinping, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, and other Party and state leaders, including Li Qiang, Zhao Leji, Cai Qi, Ding Xuexiang, Li Xi and Han Zheng, attended the meeting at the Great Hall of the People in Beijing.

The annual session of the 14th CPPCC National Committee opened on March 4.

Presiding over the closing meeting, which was attended by more than 2,000 political advisors, Wang Huning, chairman of the CPPCC National Committee, said the top political advisory body's annual session had yielded fruitful results.

Political advisors across the board have strengthened their resolve to contribute to advancing Chinese modernization and sustaining China's rapid economic growth and long-term social stability, Wang said.

Noting that 2026 marks the first year of the 15th Five-Year Plan period, Wang said the CPPCC must uphold the leadership of the CPC, better play its role as a political organization, actively provide suggestions on state affairs, and pool strength and wisdom to ensure a good start to the 15th Five-Year Plan.

Wang called on political advisors to put forward more proposals beneficial to the people, do more practical things for their well-being, and help ensure the fruits of modernization benefit all people.

The CPPCC should help rally the positive energy of Chinese people at home and abroad so that they can forge ahead on the new journey and make greater contributions to the new era, said Wang.

"Let us rally more closely around the CPC Central Committee with Comrade Xi Jinping at its core, pull together with one mind and forge ahead with determination, and strive unremittingly toward building China into a great modern socialist country in all respects!" said Wang.

A resolution on the work report of the Standing Committee of the CPPCC National Committee, a resolution on the report on how the proposals from political advisors have been handled since the previous annual session, a report on the examination of new proposals, and a political resolution of the fourth session of the 14th CPPCC National Committee were approved at the meeting.

China's top advisory body concludes annual session

Soaring oil prices triggered by escalating tensions in the Middle East have heightened U.S. inflation pressures, with analysts warning that households face hundreds of dollars in extra costs if crude climbs further.

Data released on Tuesday by the American Automobile Association (AAA) showed that the national average price of regular gasoline in the United States has risen 18.64 percent compared with Feb. 26. The AAA data also indicated that the national average price of diesel on Tuesday was up 22.85 percent from a week earlier.

Mark Zandi, chief economist at global ratings agency Moody's, warned that U.S. consumers are being threatened by a sharp rise in fuel prices. He said that if international oil prices climb by another 10 U.S. dollars per barrel, annual spending for an average U.S. household would increase by about 450 dollars.

Zandi noted that a surge in oil prices would intensify inflationary pressure in the United States, eroding consumers' purchasing power and weighing on consumption, economic growth, and employment.

Tensions sharply escalated across the Middle East on Feb 28 when the United States and Israel launched large-scale joint airstrikes on Iran. The Iranian side has responded with multiple waves of missile and drone attacks targeting Israel and U.S. assets across the region, hitting many countries in the Gulf.

Escalating Middle East tensions drive up energy prices, squeezing US consumers