China’s ‘two sessions’: small businesses voice concerns as they face economic headwinds
As leaders gather for the annual ‘two sessions’ meetings, Beijing faces a tough task to boost the nation’s economy amid deflation risks and a real estate slump. Pledges have been made to stimulate consumption and jobs, but Shanghai business owners say targeted measures are needed
As China’s political elites and lawmakers gather in Beijing for their annual “two sessions” meetings, the government faces an uphill battle to stimulate the economy. Amid challenges such as deflationary risks, a prolonged downturn in the real estate market and dampened business confidence, Beijing has promised to boost consumption, create jobs and facilitate a “friendly business environment”. Business owners in Shanghai, who say they have felt an economic chill for quite some time, say policies on a macro level need to be backed up with specific measures to address their needs.