Sam Hou Fai delegation heads to Beijing for Two Sessions

Sam Hou Fai, along with a delegation of local representatives, has traveled to Beijing for the annual Two Sessions.

The key political event shaping the country’s policy direction is set to convene in Beijing this week against the backdrop of a complex and challenging domestic and global environment.

Sam will attend the third session of the 14th National People’s Congress (NPC) tomorrow. Meanwhile, the Chinese People’s Political Consultative Conference (CPPCC), an advisory body, will commence today.

The Two Sessions, held annually as part of a five-year cycle, is expected to last about a week. During the meetings, Premier Li Qiang will present a government work report outlining China’s economic objectives for 2025, including the projected GDP growth rate.

Analysts anticipate the target to remain at around 5%, consistent with 2024.

Typically, the GDP growth target set in the government work report is one of the most closely watched figures.

As China’s economy transitions to high-quality development, GDP is no longer the sole measure of economic performance, though it remains an important indicator.

Macau will be represented by 12 NPC deputies and over 20 CPPCC members. According to Seaport Research Partners, new stimulus measures and supportive policies could be introduced to boost consumer confidence.

Analyst Vitaly Umansky noted that China’s recent visa changes could positively impact Macau’s economy in 2025.

More significantly, he highlighted Beijing’s continued pro-Macau stance, with potential policy actions focused on real estate recovery, business regulations, and trade with the U.S.

“The policies from this year’s Two Sessions are likely to emphasize growth more than in the past two years,” Umansky stated. LV