China’s Xi Had a Very Busy Week. Here’s What He Said and Did
China’s Xi Had a Very Busy Week. Here’s What He Said and Did
(Bloomberg) -- Chinese President Xi Jinping has been in the public eye for five days in a row, giving speeches and approving policy closely tied to his drive to revamp broad swathes of the world’s second-largest economy.
The flurry of activity underscores the defining aspect of Xi’s near-decade of rule: ensure the ruling Communist Party is dominant in every aspect of government, society and the economy. It’s an approach that could give Xi room to execute his “common prosperity” campaign to narrow China’s yawning wealth gap -- and the public support he needs for continued rule.
Here’s a look at Xi’s busy week:
Monday: Approved Moves on Monopolies and Pollution
Xi “reviewed and approved” a slew of measures to fight monopolies, battle pollution and shore up strategic reserves at a meeting of a reform committee. Anti-monopoly regulations have already cost tech giants hundreds of billions of dollars in market value over the past year. Putting those regulations into practice was “an intrinsic requirement for improving the socialist market economic system,” Xinhua reported, citing Xi.
Tuesday: Chaired Key Politburo Meeting
Xi chaired a gathering of the Politburo, the top decision-making body of the Communist Party, that announced a large party event in November. That gathering of roughly 400 state leaders, ministers, military chiefs, provincial bosses and top academics will focus on the party’s achievements, state media said. It will also review and adopt policies before a congress next fall, where Xi could secure a third term as party leader.
Wednesday: Urged Youth to Never Be ‘Spineless Cowards’
The Chinese leader spoke to young cadres at the Central Party School, urging them to firm up their ideals, remain loyal and “strive to become the backbone of a society trusted by the party and people with important tasks,” according to the official Xinhua News Agency. “Communists should have character, integrity and courage so that we’ll never be taken in by fallacies, never tremble in the face of danger and never be spineless cowards,” he said.
Thursday: Revealed New Stock Exchange
Xi used a speech at a government-run summit on trade in services to announce his government would set up a stock exchange in Beijing, to help innovative smaller companies access funding. Xi also emphasized his government’s gradual opening to foreign investment in service sectors such as finance and health care. He added that China would “share the development opportunities of trade in services, so as to promote the recovery and growth of the world economy.”
Friday: Opposed Virus Origin-Tracing at Event With Putin
In a video address to the Eastern Economic Forum in Vladivostok, Xi reiterated his opposition to a virus origin-tracing probe backed by the U.S. and other nations. He said northeast Asian nations should work together on Covid-19 vaccines, climate change and regional peace. The event included speeches from Russian President Vladimir Putin, Indian Prime Minister Narendra Modi and Thai Prime Minister Prayuth Chan-Ocha.
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