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China's ‘Two Sessions’ bring prospects for Dhaka-Beijing common prosperity


Bangladeshpost
Published : 05 Mar 2023 07:41 PM | Updated : 07 Mar 2023 12:50 AM

Musundali Bhuiyan

With the principle of ‘putting people first’, the Communist Party of China (CPC), under the leadership of Chairman Mao Zedong, established the People’s Republic of China (PRC) in 1949. The successive leaders of the CPC have since been governing the PRC by upholding the principle. They have gone through many ups and downs throughout history, but have never deviated from this fundamental principle. The CPC has always turned all headwinds into tailwinds to win the hearts of the people during its century-long journey since 1921.

The CPC has already built China into a moderately prosperous society in all respects. It is now loaded with vigor and all set for continuing its journey to transform China into a great modern socialist country in all respects by 2049. In this respect, President Xi Jinping has rolled out the path of modernization with Chinese characteristics combining material and spiritual civilizations. 

Against such a backdrop, China opened its simultaneous annual sessions of the National People's Congress (NPC) and the National Committee of the Chinese People’s Political Consultative Conference (NCCPPC), which are known as the ‘Two Sessions’, last weekend.

The NPC is the highest organ of state power and the national legislature of the People's Republic of China. The NPC meets in full session for roughly two weeks each year and votes on important pieces of legislation. The Prime Minister of China presents a work report of his government to the meeting over the immediate past year.

The annual meeting provides an opportunity for the legislators to review past policies and present plans for the nation. However, the Standing Committee of the NPC meets in continuous sessions when the full session of the NPC is not held. It can be considered a cabinet that decides the matters of the state and public importance in the absence of parliament.

Under China's Constitution, the NPC is structured as a unicameral legislature, with the de jure power to legislate and oversee the operations of the government, the supreme court, special committees, the supreme procuratorate, the central military commission and elect the major officers of the government. The NPC is elected for a term of five years.

On the other hand, the CPPCC is a political advisory body in China. It traditionally consists of delegates from the Chinese Communist Party (CCP) and its allied front organizations, eight legally-permitted political parties, and independent members.

The CPPCC members serve as advisors for the government and legislative and judicial organs. Its roles and powers are somewhat analogous to an advisory legislative upper house. The annual session of the CPPCC began on Saturday, while the NPC session started on Sunday at the People's Great Hall of China in Beijing and is scheduled to end on March 13.

The ongoing sessions hold special importance to the Chinese and the world as they are being held for the first time after China’s decisive victory over Covid-19. Therefore, all eyes are now on the two sessions, with many expecting that the sessions will come up with good news for the pandemic and wars-stricken world.

As a committed and responsible global partner, China has also responded to global expectations and reiterated its pledge to work for global development and peace. In the government work report presented to the sessions, China announced its readiness to work with the international community to put into action the Global Development Initiative and the Global Security Initiative and promote the shared values of humanity.

 ‘We will stay committed to an independent foreign policy of peace and peaceful development and pursue friendship and cooperation with other countries based on the Five Principles of Peaceful Coexistence,’ according to the report.

More importantly, the report mentioned that China will remain firm in pursuing a strategy of opening up for mutual benefits, making the world more optimistic about a better future. Bangladesh is not an exception in this case. As a strategic partner of China, Bangladesh can also benefit from the decisions to be taken in the sessions.

As China will continue deepening its opening up and reforms, the country will increase and intensify its foreign trade and investments and further open its domestic market to the world. China has already granted zero duty for 98 percent of Bangladeshi imports and Bangladesh can tap the prospects of the huge domestic market of China. If Bangladesh can achieve even a 1 percent share of the Chinese market, its export earnings from China alone could be in the range of $20 to $25 billion. As a result, the trade balance will tilt toward Bangladesh, which is now in favor of China by a huge margin.

In line with its commitments to facilitating global development reaffirmed in the two sessions, China will bolster the building of its Belt and Road Initiative (BRI). And as a member of the initiative, Bangladesh can also have more Chinese investments and reap other economic and trade dividends under the BRI framework.

Economists are of the view that as an important partner of the BRI, Bangladesh can also study the feasibility of a Free Trade Agreement with China which can be an effective tool for reducing the trade deficit. They also think that the BRI has given a strong and effective platform to Bangladesh for negotiating with China over exporting more items to its huge market.

Finally, as a strategic partner, Bangladesh has prospects on all fronts to explore and forge ahead of all-out cooperation with China. The ‘Two Sessions’ has reoffered the prospects for win-win cooperation by which Bangladesh can grow and prosper together with China. 

- Musundali Bhuiyan is a journalist