By Lawal Sale
People's Republic of China, the second largest economy has once again held it's key annual event in Beijing between March 4 and 6. It was "Two Sessions" of the 14th National People's Congress (NPC) and the National Committee of the Chinese People's Political Consultative Conference (CPPCC).
In attendance were President Xi Jinping who is also the General Secretary of the Chinese Communist Party and Chairman of the Central Military Commission. Also, in attendance were the Chinese Premier Li Qiang, top Politburo officials and other representatives.
The annual session of NPC and CPPCC usually runs in parallel and take place around the same time, which is why they are collectively known as the "Two Sessions".
Among other issues discussed during this year's Two Sessions were the annual goals target, GDP target, plan for national economic and social development as well as budgets.
The main targets this year were set as follows:
• GDP growth at 5%;
• Urban unemployment rate at around 5.5%;
• Over 12 million new urban jobs;
• CPI increase of around 2%;
• Growth in personal income in step with economic growth;
• A basic equilibrium in the balance of payments;
• Grain out of around 700 million metric tons;
• A drop of around 3% in energy consumption per unit of GDP and
• Continued improvements in the environment.
In his address to the deputies, Chinese Premier Li Qiang noted that in proposing the main targets, evolving dynamics at home and abroad and other relevant factors, including what would be needed and what would be possible were considered, adding that "in setting the growth rate at around 5%, we have taken into account the need to stabilise employment, prevent risks, and improve the people's wellbeing as well as the potential for growth and the conditions supporting growth.
While elaborating on external environment, the Premier said that regardless of some changes, China would remain steadfast in its commitment to opening up, emphasising that the achievements of 2024 did not come easily because the adverse impact of changes in the international development increased and some structural problems came up.
In a deliberate efforts to attract foreign investments in 2025, Li said China will host major trade events to high standards, such as the International Import and Export Fair, China International Fair for Trade in Services, the Global Digital Trade Expo, and the China International Consumer Products Expo.
Li further maintained that foreign investors will receive better services and support, and the launch of landmark investment projects will be expedited, adding that these efforts would help to make China a favoured destination for foreign investments.
On the sidelines of the event, Chinese foreign affairs minister and member of the Political Bureau of China Central Committee, Wang Yi addressed the media on China's foreign policy and external relations. During the briefing, Mr. Yi noted that the year 2024 saw profound changes in the international landmark, and that under the stewardship of General Secretary Xi Jinping, China made important progress in diplomacy.
Yi further called on the Global South to strengthen themselves, stand together in unity, and strive for development. He said "the hallmark of our era is the prominent, growing strength of the Global South".
According to Yi, over 40 percent of global GDP and contributions as high as 80 percent of global growth recoeded, adding that the Global South is a key force for maintaining world peace, driving word development and improving global growth.
On China-Africa relations, the Chinese FM called for support for Africa in exploring new development path of self reliance, and self strengthening. He said China and Africa are always good friends, good partners and good brothers with a shared future.
Wang Yi recalled that this year marks the 25th anniversary of Forum on China-Africa Cooperation (FOCAC), stating that over the past 25 years, China has helped Africa build or upgraded nearly 100,000 kilometres of railways, and in the past three years alone, Chinese enterprises created more than 1.1 million new jobs in Africa.
Yi further noted that China remained Africa's largest trading for 16 consecutive years, assuring African brothers and sisters that China-Africa Cooperation is visible, tangible and truly beneficial.
According to him, Africa is a fertile land of hope of the 21st century. "There will be no global modernisation without African modernisation".
He said the stability and development of Africa is vital to the future of humanity, and the world must listen to Africa and heed it's concerns, adding that Africa is going through a new awakening, and countries should support Africa in exploring a new development path of self reliance and self strengthtening.
Explicating on this year's Two Sessions and it's targeted goals, analysts observed that Nigeria stands to gain from the outcome of this year's Two Sessions and China's targets for development.
Nigeria and China are strategic partners and they aimed to develop a high level China-Nigeria community with a shared future.
It will be recalled that during the last FOCAC summit in Beijing, last year, China and Nigeria had the consensus to upgrade China-Nigeria partnership to a "Comprehensive Strategic Partnership".
The upgrade according to the Chinese Ambassador to Nigeria Yu Dunhai, showcased a remarkable boost in China-Nigeria relations after the establishment of the strategic partnership in 2005.
Nigeria is the largest engineering contracting partner of China, the second largest exporting partner, the second and largest exporting market, the third largest trading partner and important important investments destination.
In appreciating the 54 years of smooth diplomatic relations, President Bola Ahmed Tinubu on his return from Beijing FOCAC summit in September, approved the establishment of Nigeria-China Strategic Partnership (NCSP) and appointed Mr. Joseph Tegbe as Director-General with a mandate of overseeing the implementations of cooperation agreements signed at the FOCAC summit and to also promote trade and investment between Nigeria and China.
Observers noted that already, the NCSP is working head-on in engaging Chinese government officials in China and Nigeria, Chinese companies and investors operating in Nigeria.
Also, among other engagements of
the NCSP were synergy with subnationals, ministries, departments and agencies of government and business community.
According to the DG of NCSP, the strategic engagements and meetings with stakeholders across board were aimed at ensuring implementation of agreements and bolster the Nigerian economy in critical sectors such as agriculture, mining, telecommunications, energy, health, technology and infrastructure development.
There is no gainsaying that Nigeria-China cooperation had recorded significant success over the years as observed across Nigeria with new and ongoing projects carried out by Chinese companies; such as the Lagos-Ibadan railways, Abuja-Kaduna railways, Lekki deep seaport, Lagos metro lines, Abuja metro line, Abuja-Keffi-Makurdi highway, rehabilitation centre of six airports among others.
- Sale is an Abuja based Global South Affairs Analyst (lawalmaida1@yahoo.com)
