As China’s political elites and lawmakers gather in Beijing for their annual “two sessions” meetings, the government faces an uphill battle to stimulate the economy. Amid challenges such as deflationary risks, a prolonged downturn in the real estate market and dampened business confidence, Beijing has promised to boost consumption, create jobs and facilitate a “friendly business environment”. Business owners in Shanghai, who say they have felt an economic chill for quite some time, say policies on a macro level need to be backed up with specific measures to address their needs.
