CPPCC members are China's unsung policy heroes

In my decadelong career as a journalist, I've covered topics that are an endless source of intellectual curiosity. Yet, at the end of the day, it is economic matters that I find most fascinating.

The making of economic policy is as sophisticated as it is delicate. A policy, for all its good intentions, must be delivered in a well-calibrated way, as it has a direct and, in some cases, immediate impact on people. Policymaking is a tough balancing act in every country.

In China, economic targets and policies are developed with input from political advisers who are members of the National Committee of the Chinese People's Political Consultative Conference. Most of them are authorities in their areas of research, and some are among the best known business leaders in China. Their participation in policymaking is as old as China's political consultation system.

For this year's CPPCC National Committee's annual session, I am spending the week with more than 120 political advisers with economic backgrounds.

Despite the ongoing COVID-19 pandemic, China's economy has recovered in a way that has impressed the world. The country turned out to be the only major economy to register positive growth in 2020 and grew 8.1 percent last year. This is in large part attributed to the dedicated and effective policy response that China has mounted to get its economy out of the woods.

After conducting interviews over the past two days, I came to appreciate the role of the political advisers, the unsung heroes who have contributed their insight and expertise to China's policymaking－not only in response to COVID-19, but every step of the way since China embarked on economic reform, especially at high-stakes moments when the country has grappled with seemingly insurmountable challenges.

Two hours after hearing the Government Work Report freshly delivered by the premier of the State Council, China's Cabinet, on Saturday afternoon, some of the advisers shared with me their ideas about the Chinese economy.

In the report, the target for China's economic growth this year has been set at around 5.5 percent, which is described as a "medium-high rate of growth given our large economic aggregate, and will require arduous efforts".

"New challenges continue to emerge on the global landscape. If China, with a GDP of more than 114 trillion yuan ($18 trillion), can manage to grow at a medium-high level, it would be no small accomplishment and will make China a leader in global development," said Wang Yiming, an economist who is one of the political advisers. "With persistent uncertainties hanging over the global economy, a steadfast focus on economic development will put us in a better position to tackle external challenges."

Wang is now a member of the monetary policy committee of the People's Bank of China, China's central bank. Prior to that, he had worked at the National Development and Reform Commission, known as the country's top economic planner, for over 20 years, during which China experienced high-speed growth on the back of ambitious economic reforms.

"Growth is important, and to sustain it, smaller businesses must be able to survive and thrive," Wang told me. "These businesses are major job providers in China, and they help keep the economy on a steady course. Also, many are incubators of innovation, a key to our high-quality growth."

He said his proposal for this year's gathering focuses on helping the country's micro, small and medium-sized businesses speed up digitization so they can keep up as technology evolves.

I have learned that measures in support of the small business community are in fact among proposal packages from many political advisers. Some of them have been advocating for moves that may help micro and small businesses survive and thrive amid the epidemic.

It was during conversations like these over the past two days that I came to understand and appreciate the indispensable role of these advisers, their contributions to China's economic reform and progress and the political system that allows them to do so. Their insights and understanding about the Chinese economy are critical, as their knowledge has accumulated during their decadeslong work of actually engaging in the country's economic reforms. Their unique understanding of the intricacies of the economy has enabled them to offer key insight and advice.

In a group discussion about better discharging their advisory duties on Saturday afternoon, I found many of them are working on issues that are highly relevant to high-quality growth and common prosperity, two major goals China has set for its development.

China's economic reform is on an extraordinary trek. Macro policymaking along the way has and always will be a delicate balancing act. We wouldn't be where we are without these advisers, some of the best minds in the country who will continue to see China through any challenges that may come its way.