By Citi GPS,
December 12, 2017
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President Xi Jinping has consolidated his power in China. This report explores his party’s new policies and the national and global implications of these.
President Xi Jinping cemented his role as the most powerful leader in China since Chairman Mao Zedong at China’s 19th Party Congress. This will pave the way for him to extend his term beyond 2022 and put more weight on the economic policies and priorities he advocates.
Given that the ‘China dependence’ of many countries has risen considerably as China has become the largest contributor to global growth, it is important to take a deeper look into the economic policies and initiatives unveiled at the Party Congress. In this report we outline what was said, examine the implications for Chinese growth based on the policies announced, and also examine the effect of these policies on the rest of the world.
Given the consolidation of political power, we expect more breakthroughs, in industrial upgrading (e.g. Made in China 2025), rural land reforms, second-round urbanization (e.g. the Xiong’an new district, the Yangtze River economic belt, and the Great Bay area), financial reforms and further opening up (e.g. the Belt Road Initiative) as well as environmental protection.
To read the full report click here.