haslinda: speaking of goals, michael, let's listen to what premier li keqiang had to say about goals. >> our development goals for the year were accomplished, and major headway has been made in china's reform, opening up, and the socialistic modernization drive. haslinda: we talk about modernization of the chinese economy. from what you gather from the speech so far, five down years -- five years down the road, how will china look? michael: five years down the road, much will depend on how they implement this plan. i think we will see china moving into a lower growth mode, being willing to accept lower growth, and i think structural restraints on china's economy, including the demographic wave, or going to dictate that. so lower growth that clearly more focused on balanced development, environmental protection, quality-of-life issues and innovation. there are going to be challenges over this next five-year timeframe in terms of controlling debt, being able to have new growth drivers replace old growth drivers beijing is looking to shed. so i think it will be a challenge. i am not expe

annmarie: li keqiang speaking at the annual session of chila's parliament.he national people's congress. china opened the meeting with a relatively conservative target for economic growth this year of above 6%. the move signals more restrained monetary and fiscal policies in contrast to what we are seeing in other nations and focuses on potential changes in hong kong. the parliament set to review a proposal to overhaul the electoral system. joining us now is tom mackenzie. he has been all over this all morning. a conscious target for economic growth but it's actually surprising they even set a target, isn't it? what is this telling us about the chinese leadership and what they are thinking going into 2021? tom: that was the stand out from this work report, this speech delivered by li keqiang. they did in fact set a gdp target for 2021 because a lot of economists thought they would drop it again as they did last year but they set it at above 6% but as you rightly point out, that's well below the consensus. most economists we speak to see growth between -- jus

the country's premier li keqiang told the assembled media afterwards "we should always have patriotss would be preserved by a one country, two systems formula. some believe that's now been broken. if they are going to impose a system on hong kong whereby my party — or other pro—democracy people — will not be free to take part in elections and to be elected and to carry out their duties with dignity, independently and freely, then, i mean, that one country, two systems is over. but the harder hong kong's pro—democracy movement has fought, the more china has tightened its grip. under a new national security law, dozens of politicians and activists were rounded up in dawn raids injanuary and now face sentences of up to life in prison. the latest measures attempt to tame hong kong's sometimes unruly parliament. already stacked heavily in favour of beijing, in future, a committee will be able to disqualify any candidate deemed not patriotic enough. there's been plenty of moments in recent years when observers have proclaimed the death of hong kong, but few can doubt the symbolism of what'

the country's premier, li keqiang, told the assembled media afterwards, "we should always have patriotsended in 1997, china promised hong kong's freedoms would be preserved by a one country, two systems formula. some believe that's now been broken. if they are going to impose a system on hong kong whereby my party — or other pro—democracy people — will not be free to take part in elections, and to be elected, and to carry out their duties with dignity, independently and freely, then, i mean, that one country, two systems is over. but the harder hong kong's pro—democracy movement has fought, the more china has tightened its grip. under a new national security law, dozens of politicians and activists were rounded up in dawn raids in january and now face sentences of up to life in prison. the latest measures attempt to tame hong kong's sometimes unruly parliament. already stacked heavily in favour of beijing, in future, a committee will be able to disqualify any cabinet deemed not patriotic enough. there's been plenty of moments in recent years when observers have proclaimed the death of h

the country's premier, li keqiang, told the assembled media afterwards, "we should always have patriotsh rule ended in 1997, china promised hong kong's freedoms would be preserved by a one country, two systems formula. some believe that's now been broken. if they are going to impose a system on hong kong whereby my party — or other pro—democracy people — will not be free to take part in elections, and to be elected, and to carry out their duties with dignity, independently and freely, then, i mean, that one country, two systems is over. but the harder hong kong's pro—democracy movement has fought, the more china has tightened its grip. under a new national security law, dozens of politicians and activists were rounded up in dawn raids injanuary and now face sentences of up to life in prison. the latest measures attempt to tame hong kong's sometimes unruly parliament. already stacked heavily in favour of beijing, in future, a committee will be able to disqualify any cabinet deemed not patriotic enough. there's been plenty of moments in recent years when observers have proclaimed the deat

the chinese premier, li keqiang, has opened the annual meeting of parliament with a warning against anyeople's congress, mr li said beijing would resolutely guard against such moves. the gathering has been told that hong kong's electoral system is to be completely overhauled. (0ur correspondent in beijing stephen mcdonell, joins us now. when beijing set out last summer to quash resistance to its rule in hong kong, it imposed a national security law that empowered the authorities to arrest scores of democracy advocates. how much further does china intend to go? a lot further, as it turns out. i think that beijing was possibly shocked at the success with which the pro—democracy camp had at the most recent local council elections in hong kong whereby in all but one municipality the pro—beijing camp was wiped out. now, already, in the elections for the mini parliament there, the legislative council, it's already heavily rigged to favour the pro—beijing camp and it was impossible for the pro—democracy camp to take control of. but even with this built in disadvantages, i guess, for the pro—de

premier li keqiang said the growth target for this year was set at over 6%, haidi.s a lot lower than what we were expecting from our next guest and what she is expecting, i should say, from the chinese economy this year. that spring in the vanguard managing director. -- let's bring in the vanguard managing director. you are sticking to your call of above consensus growth this year. >> actually, we are getting more confident about that growth forecast now and we see consensus moving toward our forecast. there are several reasons. one, we see that the global economic recovery is very strong. thanks to the fiscal stimulus as well. and the second thing is that we see consumption remains quite resilient even during the chinese new year period despite all the travel restrictions. we see auto sales, home sales, movie box revenue, and local traffic congestion, it is staying resilient. the third thing i would say is also you do see that the expected fiscal consolidation is actually more moderated than people previously were thinking. added together, the recovery of the chine

china's premier li keqiang has warned the world not to interfere in hong kong as plans to overhaul theatest clip from her forthcoming interview with oprah winfrey, the duchess of sussex, meghan, says she feels "liberated" now that she and prince harry can make their own choices without the royal family. you're watching bbc news. a mystery sixth person in the uk who was infected with the concerning brazilian variant has been found following a five—day search. the news comes as coronavirus infection rates continue to fall across the uk. the number of deaths is falling sharply too. 0ur health correspondent, catherine burns reports. dinner lady, teacher and mum — lucy has been home—schooling her children since term started nine weeks ago. now, it's over, and it's fair to say they've got mixed feelings. it's the end of home school. no! i don't want to go back to school! what i'm most excited about is being iable to see my teachers and friendsl again and being able to play with them. . so, what's this question? primary and secondary school children in england will be swapping the kitchen tab

there is still the li keqiang index, which is the demand for outstanding loans.ume. activity, that is a good measure to do, but again, we look at china and we don't go, it is an industrial country or one that is the factor of the world still. we look at china as consumption driven. you have to look at the very names on the markets which command the biggest value. the biggest market caps. the highest multiples for you to actually get an indication of how the world views china, consumption, and one that is increasingly a lot more digital. haslinda: david ingles. bloomberg subscribers can follow the mpc later on live and we will bring you the highlights on bloomberg tv. the latest to check on the business flash headlines. announcement of a new business plan which includes retiring all of the shares bought back. the medium target plan on operating profit of $1.4 billion with the fiscal year, raising 2020. tesla sales and japan i. -- japan appear, with customers waiting 12 to 15 weeks for delivery compared to half of that before production. wait times of more tha

some of the biggest including adrian chang, backed by li keqiang, are preparing to raise in the u.s. look like then? >> i've learned from sources that the hong kong regime would not look exactly like the u.s. acquisitions by -- will have to meet the existing standards for ipos. they are think of special conditions for sponsorship, including a record of managing money. [no audio] haidi: i'm curious, why would authorities need to put the safeguards in place? >> it has to do with what hong kong went through. the regulators and the exchange took years. it was seen as a hotbed for stockman if you. -- stock manipulation. that is why they are threes are taking a conscious approach. -- the authorities are taking a conscious approach. they will introduce a long-term framework. circling back to the timeline, it could still change. haidi: what sick a look at the state of play when it comes to market. wall street providing a tenuously for the start of trading. we saw reports of block trades being offered for viacom, cbs one of the stocks that fell by daily record on friday. the nikkei being on t

the chinese premier, li keqiang, has opened the annual meeting of parliament with a warning to the worldears after those protests began in hong kong that beijing is introducing further measures which will almost certainly be approved by this annual meeting of the people�*s congress that are going to further erode the remnants of democracy that remains in hong kong. what we are seeing is plans to introduce the power for a committee of beijing supporting politicians in hong kong to be able to screen candidates that want to stand for election in hong kong, a kind of millie parliament, the legislative council, they will be able to directly elect representatives as well, all of this is about further diluting any sense of credible democracy there and further consolidating beijing�*s hold over that institution. we have seen china�*s premier, the number two politician in the country kick off the meeting today with a speech which is mainly about the economy but he talked yet again about the significance of patriots, those loyal to beijing being the people who represent hong kong�*s 7 million peop