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China to Focus on Creating Jobs; Hong Kong Overhaul: NPC Update Bloomberg 3/11/2021 (Bloomberg) China’s biggest political gathering of the year came to a close Thursday, with the National People’s Congress approving to overhaul Hong Kong’s electoral system and Premier Li Keqiang vowing to focus on creating jobs. This year’s NPC gathering condensed into half its usual two-week length due to coronavirus restrictions showcased President Xi Jinping’s confidence after China emerged from the pandemic as the only major economy to expand in 2020. Over the past week, the government has laid out ambitious plans to overtake the U.S. in research-and-development investment and shift its capital-intensive growth model toward services and consumer spending.

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