Posted 3/11/2024, 12:25:19 AM
China pushes economic openness at Congress, but power moves and opacity challenge investor confidence
- Premier Li Qiang's profile diminished by canceling traditional closing press conference at National People's Congress
- China proclaiming openness for foreign investment, but investors still concerned about lack of transparency and increasing power concentration under Xi Jinping
- Officials talking up China's economic prospects and plans to open more sectors, aiming for 5% GDP growth
- Goal is to attract high-tech firms to boost key industries, less focus on overall foreign investment
- Clampdowns to continue on real estate, local debts, illegal finance to defuse risks after years of "kicking the can down the road"