Xi,who was mentioned 18 times by Li as he sat in front of the premier at the head of the National People’s Congress in Beijing,has presided over tightening restrictions on the economy,crackdowns on technology companies and rising protectionism as he attempts to redistribute wealth and maintain ideological control over the country.
“All of us in governments at every level must acquire a deep understanding of the decisive significance of establishing Comrade Xi Jinping’s core position on the Party Central Committee and in the Party as a whole,and establishing the guiding role of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era,” Li said on Tuesday.
The rallying cry in Li’s annual report follows a torrid few months for the Chinese government. Beijing has been struck by high levels of youth unemployment,deflation and a property crisis that has seen the world’s second-largest economy struggle to return to its pre-COVID growth rates.
Li acknowledged that 2023 was laced with “difficulties and challenges” but said the government would “push ahead with transforming the growth model,making structural adjustments,improving quality and enhancing performance.”
China’s property and infrastructure-led development has been a boon to Australian businesses,which have seen exports – mostly made up of iron ore and coal – soar to a record high of more than $200 billion last year.
Economists say those exports are likely to remain strong as Beijing continues to rely on the sectors to hit its economic growth target,but ordinary Chinese consumers are becoming increasingly reluctant to spend on luxury items such as wine as their investments fall after years of rapid rises.