China’s economy is losing momentum, as its national congress prepares for meetings in Beijing

China's economic progress is facing challenges despite technological advancements and ambitious goals. A housing market downturn and struggles for small businesses and young people contribute to slowing growth. The annual National People's Congress is meeting to address these economic issues and outline future policy. Key topics include balancing industrial development and domestic demand, a balancing act for leader Xi Jinping. China’s economic growth, though reported at around 5%, is losing momentum, potentially masking underlying structural problems. The property market slump continues, leading to job losses and reduced consumer spending, impacting overall economic stability. Reliance on exports remains strong, with a large trade surplus, even amidst trade tensions. Xi Jinping's focus on advanced technologies and state support, however, may lead to overcapacity and trade disputes. Xi is expected to further consolidate his power during the congress, solidifying his control over the government. Military purges and anti-corruption campaigns are also spotlighted as they are used to ensure the military's political reliability.