Xi says China 'will not close its doors to the world'
Xi says China 'will not close its doors to the world'
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18 October, 2017, 07:58
China's campaign against corruption has achieved "overwhelming momentum", President Xi Jinping said on Wednesday at the start of a critical Communist Party congress expected to cement his authority. It is perhaps for the first time in 15 years, a Chinese leader will begin his second term after in power for five years, heading the three power centres.
"The question is what is Xi going to do after he secures absolute power after the 19th party congress", said Hu Xingdou, a Chinese governance expert at the Beijing Institute of Technology. It also seems through this congress, the Party will strengthen its anti-corruption campaign The congress spokesperson said yesterday that the party will make clear that any one who violates the Party discipline and the state law will be punished no matter who they are.
But foreign companies will look for signs at the congress that Xi will live up to his promises to further open up China's economy in the next five years. During this week-long congress, the Party will make amendments to the Party's Constitution, incorporating the new governance concepts, thoughts and strategies of President Xi and setting a blueprint for national development for the next five years and beyond. While most of the talks will focus on anointing Communist Party leaders, investors will be on high alert for any hints on whether market forces will be given a freer rein.
The conclave, which ends next Tuesday, will select new top party members, including in the Politburo Standing Committee, China's all-powerful ruling body.
A 22-member delegate credentials committee was approved at the meeting.
The North sent a congratulatory message to China over the 18th party congress held in 2012.
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