A major Communist Party meeting ended Thursday with Xi Jinping making big promises but not delivering anything concrete as China faces a housing crisis, falling consumption and an aging population.
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What will Xi Jinping do to get China out of its difficulties? Will he let the economy weighed down by communist ideology breathe, as Chinese and global investors expected? The master of Beijing pledged on Thursday, during the 3rd plenum of the 20th Central Committee of the Communist Party of China (CPC), to modernize industry, support consumption, reduce risks related to debt and real estate, and allow markets to play a decisive role. Quite a program.
But in the report published Thursday, July 18 by the official news agency Xinhua, no details are given on the tools of change. The same goes for the development of technologies and scientific sectors, Xi Jinping insists on the importance of “productive forces”. Here again, will this slogan be followed by effects?
A document will be published in the coming days. But some experts doubt that the Chinese number 1 will change, he who, after eliminating his adversaries, imposed his hard line. Encouraging development does not mean that he will give up control. Finally, Chinese leaders are also waiting to see who will be the future president of the rival power: the United States.
This major party meeting, crucial for the Chinese economy, also took place in a strange climate. Rumors circulated that Xi Jinping had suffered a stroke, to the point that the word was censored on social networks. On Thursday evening, Chinese people watched the CCTV news to see if Xi Jinping appeared at the closing ceremony of the plenum where he was present. This is not the first time that rumors have circulated about his state of health. It also reflects the expectation of a part of the population who hope that Xi Jinping will leave power.
