Two Sessions
Coverage of Two Sessions in the Nexus archive.
- Citic Capital CEO on making China a financial powerhouse
Zhang Yichen, CEO of Citic Capital Holdings and chairman of Trustar Capital, leads several companies including McDonald’s master franchise business in China and Hong Kong, Harbin Pharmaceutical Group, and serves on the board of Hong Kong Exchanges and Clearing (HKEX). The interview was conducted during China’s annual 'two sessions' meetings.
- Making Sense of China’s Government Budget
China released its 2026 government budget projecting RMB 24.1 trillion in revenue and RMB 30 trillion in expenditure, resulting in an official deficit of RMB 5.9 trillion. Defense spending was set at RMB 1.9 trillion with a 7 percent increase, while actual military spending is estimated to be 30-40 percent higher than official figures. The budget reflects China's fiscal situation worsening despite spending increases in defense, foreign affairs, science, technology, and social welfare.