China Resists Pressure for Economic Stimulus Ahead of NPC Session

The National People’s Congress faces pressure for stronger stimulus to boost China’s economy, but President Xi Jinping's focus on advanced manufacturing may lead to resistance. The NPC session will be scrutinized for plans to address challenges including a real estate crisis and low investor confidence. Premier Li Qiang is expected to deliver a 'work report' outlining economic growth targets and military spending priorities. Beijing's stance on tensions with the US and projected growth targets amid economic challenges will also be under scrutiny. However, it's noted that stimulus measures are expected to be relatively restrained, focusing on high-quality development rather than massive stimulus. The session's outcome will likely impact global trade dynamics, particularly in electric vehicles and solar panels.