Reforms

Unleashing reforms, Xi returns to China's 'socialist' roots

But sweeping new policy moves - from crackdowns on internet companies, for-profit education, online gaming and property market excesses - to the promulgation of Common Prosperity, show Xi's seriousness in steering China back towards its socialist roots.

Having done away with term limits in 2018, China's most powerful leader since Mao Zedong is pushing what some observers describe as a mini "revolution", curbing the excesses of capitalism and shedding negative cultural influences of the West.

Juffa condemns electoral reforms

He said it was totally absurd to be suddenly making amendments and reforms now when the Government had five years to do so with adequate consultation with all stakeholders.

"To not consult stakeholders such as the people, is totally arrogant and autocratic. It smacks of election rigging.

“Why now? Why also withhold funding for Electoral Roll updates for provinces and why delays on security assessments and other preparatory work?”

People to face higher inflation

This is a 0.4 per cent increase from 2016 estimates of 6.6 per cent.

This will see domestic goods and services, medical services and housing prices to remain high.

According to the 2017 National Budget, the projected inflation rise for 2017 is reflective the back of several factors.

They include: the kina depreciation and slight pick-up in domestic economic activity relating to the National Elections, minor improvements in commodity prices, and construction of APEC facilities which are expected to boost income and spending.