China Politics October 2017

China

China: President Xi expected to cement grip on power at 19th National Communist Party Congress as new party leadership is unveiled

October 16, 2017

Top policymakers will gather in Beijing on 18 October for the twice-a-decade National Congress of the Communist Party of China (NCCPC). The party congress is a largely political event, with limited direct economic impact, that will determine the country’s leadership lineup and outline the party’s political priorities for the next five years. The congress will also mark the start of President Xi Jinping’s second—and supposedly last—five-year term as General Secretary of the Communist Party, and it is widely expected that he will use the meeting to cement an unprecedented amount of power. Xi’s tightening grip on power should allow him to continue pursuing his economic and political vision of China without strong resistance. Most experts expect Xi to continue with his hardline domestic policies as he seeks to increase the country’s role on the global stage. Promoting the development of the private sector, financial stability and a smooth transition of the economy are likely to stay top priorities.

Five of the seven members of the Standing Committee, China’s top decision-making body, are due to retire and be replaced, along with nearly half of the 205 members of the Central Committee and 11 of the 25 members of the Central Politburo leadership committee; it is likely that the replacements will be Xi loyalists. In addition, Xi will present his vision of China for the years to come, although detailed economic reforms and policies will be unveiled at the Third Plenary Session of the Central Committee of the Communist Party of China, expected to take place in the fall of 2018.

The highlight of the party congress is the unveiling of China’s future leadership. According to party practices, the future leader of the party is appointed at the congress prior to their assumption of the role, and each General Secretary holds the reigns of China’s government for two terms, meaning that Xi’s successor is due to be announced. However, so far, no clear successor has emerged, and analysts are speculating that Xi may hold on to power for an unprecedented third term.


Author: Ricard Torné, Lead Economist

Sample Report

Looking for forecasts related to Politics in China? Download a sample report now.

Download




China Economic News

  • China: Credit and money data paint mixed picture in November

    December 11, 2018

    In November, Chinese banks distributed CNY 1.25 trillion (USD 182 billion) in new yuan loans, well above the CNY 697 billion distributed in October and market expectations of CNY 1.10 trillion.

    Read more

  • China: Inflation slows in November

    December 10, 2018

    Consumer prices fell 0.3% from the previous month in November, contrasting October’s 0.2% increase and marking the lowest print in eight months.

    Read more

  • China: Manufacturing sector slows to a standstill in November, PMI inches down to over two-year low

    November 30, 2018

    The manufacturing purchasing managers’ index (PMI) published by the National Bureau of Statistics (NBS) and the China Federation of Logistics and Purchasing (CFLP) edged down to an over two-year low of 50.0% in November from 50.2% in October, undershooting market expectations of a stable 50.2% reading.

    Read more

  • China: Growth in house prices inches up in October

    November 15, 2018

    House prices in 70 large- and medium-sized cities rose 1.0% in October in month-on-month terms according to a weighted average index calculated by Thomson Reuters from data issued by the National Bureau of Statistics (NBS).

    Read more

  • China: Industrial production growth inches up in October

    November 14, 2018

    Industrial production expanded 5.9% year-on-year in October, up from a 5.8% rise in September and overshooting market expectations of 5.8%. October’s print mainly reflected faster growth in the mining and manufacturing sectors, while the dynamics in the production and distribution of electricity, heating power, gas and water softened compared to September. On a month-on-month basis, industrial production increased 0.48% in seasonally-adjusted terms in October, unchanged from September’s expansion.

    Read more

More news

Search form