BEIJING (Reuters) – Chinese President Xi Jinping said on Sunday the country had recently abandoned immediate expansion and greater national self-sufficiency, especially in technology.
Xi speaking at the opening rite of the Twentieth National Congress of the ruling Communist Party of China, which is held once every five years. His same speech in 2017 began with many discussions about China’s economic growth.
In contrast, Xi began his remarks on Sunday by further highlighting China’s “national rejuvenation” and its opposition to Taiwan’s independence.
Xi briefly discussed in this opening-up segment how the country’s Covid policy has achieved “positive results” in coordination with economic development. He said whether the policy would end or continue.
China’s covid controls helped the country temporarily return to expansion in 2020. But the questionable “zero covid” policy has become increasingly tight this year, prompting investment banks to continuously cut expansion estimates for China.
Looking ahead, Xi is under pressure that the country needs a solid technological foundation to achieve its modernization goals. Among the areas he discussed were the quality of Chinese manufactured goods, the country’s functions in space transportation, and virtual development.
“Without counterfeit curtains or technological foundations, we hope to build a wonderful fashionable socialist country,” Xi said in Chinese, according to an official English translation.
Since the party’s 19th National Congress, the U. S. The US has increased its pressure on China. Biden’s management has branded China a strategic competitor and this month announced new semiconductor export controls, in a bid for U. S. technological merit. U. S. on China.
Xi mentioned express countries in his nearly two-hour speech.
However, he set a segment of how the country would do in education to expand its own clinical capacity and enhance the launch of national projects of “strategic” and “long-term” importance. He did not provide further details.
Nor has it neglected expansion plans. Xi said the country will try to boost productivity, make its supply chains more resilient and increase overall economic output.
Overall, the speech set a framework for Xi’s short-term plan for China, which he said is a “fundamentally socialist modernization” between 2020 and 2035.
He presented past successes in building the world’s second-largest economy and a “major destination for global investment” as achievements that are already on the books.
The Communist Party of China has already announced 100-year progression goals: “to build a disgustingly rich society in all aspects” by 2021 and “to build a fashionable socialist country that is disgustingly rich, strong, democratic, culturally complex and harmonious” by 2049. .
Xi’s list of “essential requirements” for Chinese modernization began with maintaining the leadership of the Chinese Communist Party, followed by “high-quality development. “
The list included the achievement of non-unusual prosperity (moderate wealth for all but a few) and “harmony between humanity and nature. “
China’s Xi had in the past announced plans to peak carbon emissions by 2030 and carbon neutrality by 2060.
Analysts attributed China’s renewed focus on non-unusual prosperity last year to a crackdown on web tech companies and extracurricular education companies. These measures, in addition to China’s Covid controls, have made foreign investors wary of potential expansion opportunities in the country.
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On Sunday, Xi spoke of selling a “healthy” online environment. He said the country would inspire wealth and expand its middle class. He said China would normalize an unspecified mechanism for wealth accumulation.
In particular, he addressed China’s existing real estate problems, but repeated previous statements about accelerating measures to boost home buying and rentals.
Xi warned of “dangerous storms” along the way, calling for commitment to leadership, “reform and opening-up” and other principles.
After leading the Chinese Communist Party and the country for the past decade, Xi is expected to bolster his strength at the party’s 20th National Congress. Next weekend the names of the new core team around Xi will be announced.
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