2026 two sessions: China’s push for zero corruption and financial superpower

The South China Morning Post has launched a series exploring Beijing’s progress in defusing financial risks and rooting out political corruption, along with what remains to be done. The series covers steady stock market growth, anti-corruption in academia, and financial influence.

The South China Morning Post published a series on March 7, 2026, titled “Two sessions 2026: China’s zero corruption, financial superpower push.” The series delves into Beijing’s efforts to defuse financial risks and root out political corruption, and what remains to be done.

One article notes that China is working to build slow, steady stock markets, rejecting the norm of boom and bust. Beijing is emphasizing gradual growth in its capital market policies, encouraging dividend payouts and drawing a contrast with the West.

Another piece explains why China’s anti-corruption push in academia is key to its science and tech aims. Ahead of the country’s annual two sessions meetings, scientists urge more institutionalized and effective mechanisms to curb abuses of power.

The series also examines China’s war on corruption, asking if this is just the end of the beginning. More “tigers”—high-level officials—are being culled than ever before in a campaign that could be becoming the new normal.

Additionally, it covers how China is using its economic clout to give the US dollar a run for its money. Beijing is using economic clout to reshape its global financial influence—a strategy analysts say could play out over decades.

These articles provide context for the upcoming two sessions, highlighting the importance of ongoing reforms.

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Realistic illustration of China's 2026 Two Sessions press conference highlighting GDP growth targets and leaders including Premier Li Qiang and Xi Jinping.
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Economy press conference highlights from China's 2026 Two Sessions

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Following Premier Li Qiang's government work report setting a 2026 GDP growth target of 4.5-5%, Zheng Shanjie of the National Development and Reform Commission projected over 6 trillion yuan GDP growth this year at the NPC economy press conference. The service sector is expected to exceed 100 trillion yuan during the 15th Five-Year Plan (2026-2030). Leaders including Xi Jinping emphasized high-quality development amid the sessions.

At the opening of China's National People's Congress, Premier Li Qiang pledged to champion orderly multipolarism and inclusive globalisation. President Xi Jinping urged major provincial economies to lead in technological innovation and risk control. The government work report outlined priorities for the economy, innovation and military this year.

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China has set its 2026 economic growth target at 4.5 to 5 percent, striving for better results, as announced in a government work report submitted to the National People's Congress on March 6, 2026—confirming earlier January reports of this range.

Shanghai's municipal government held a news conference to announce the start of the 2026 Shanghai Global Investment Promotion Conference on March 14, lasting a week. The event aims to enhance the business environment and government services to build stronger industrial chains. Officials and executives highlighted new platforms for emerging technologies to attract investments.

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During China's 2026 national two sessions, Hong Kong's role as the world's third-largest financial center drew attention. Australian scholar Warwick Powell discussed with Hong Kong CPPCC member Judith Yu how the city can leverage its 'super-connector' status to align with the 15th Five-Year Plan. Yu highlighted innovation, technology, and financial empowerment to boost Greater Bay Area cooperation.

As Beijing launches its new five-year plan, President Xi Jinping has revived his goal of turning China into a financial superpower. Analysts say Hong Kong, as a global financial centre, could play a key role in yuan internationalisation, digital yuan adoption, and cryptocurrency testing.

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Hong Kong Financial Secretary Paul Chan Mo-po will deliver the 2026-27 budget on Wednesday, unveiling measures to accelerate economic recovery. The budget features a purple cover symbolizing strengthening economic momentum amid a volatile external environment. It arrives against heightened geopolitical tensions, including a new 15 per cent global tariff announced by US President Donald Trump, with expectations for sweeteners tempered by economists' warnings on public finances.

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