What We're Tracking China's National People's Congress wraps up. China will conclude its annual National People's Congress session in Beijing on May 28, where policies decided on by the government will be officially confirmed and enacted. COVID-19's devastating economic fallout will top the agenda, most important, China's $500 billion 2020 spending plan to stimulate flagging economic growth and shore up businesses, employment and local government financial stability. Key here will be how Beijing can roll out means of doing so that do not massively inflate debt levels. So far, China's rebound has been relatively robust, although the uncertain outcome of the outbreaks in key Western markets leaves much uncertain. Hong Kong has emerged as another key issue, with the NPC set to circumvent Hong Kong's legislature and begin the process of imposing national security laws inside the city ahead of a fresh season of protests.