On Friday, China detailed its plans for the next five years, including stronger constitution enforcement in Hong Kong, according to SCMP.
- Chinese Premier Li Keqiang said China will continue with its “independent foreign policy of peace.” He committed to promote world peace and prosperity.
- China will continue the Belt and Road Initiative and improve outbound investment amid overseas concerns. It will also implement the Regional Comprehensive Economic Partnership.
- China’s 14th five-year plan says it will improve the implementation of national security legal mechanisms in its special administrative regions. The move is said to make Hong Kong and Macau more competitive.
- The central government pledged to support Hong Kong as an international centre and its offshore yuan business. Hong Kong officials say the decision was clouded by political bias.
- NPC vice-chairman Wang Chen said Hong Kong’s mini-constitution does not need to be changed, but certain local laws need amendments. Reforms should comply with “one country, two systems.”
- Spending against COVID-19 was recorded at 400 billion yuan ($62 billion). Spending by customs authorities rose 8% to 173.5 billion yuan.
- China to boost military budget by 6.8% to 1.55 trillion yuan ($209 billion) in 2021. The budget was hiked by 6.6% in 2020, the slowest since 1989.
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