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Free AccessMNI ANALYSIS: China's Xi Address Promises Celebrations Ahead
--Lighthearted, Jubilant Mood As New Chinese Leadership Introduced
By William Bi
BEIJING (MNI) - One could say it was staged humor with Chinese
characteristics.
Right before Chinese Communist Party General Secretary Xi Jinping's
scheduled media appearance was set to begin Wednesday, as reporters anxiously
waited for the new Chinese government leadership to enter the maroon-carpeted
Eastern Hall of the Great Hall of the People, a slender female catering staffer
calmly glided in from the right side of the stage, carrying a tray with a single
glass of water covered with a paper lid. The eyes and cameras of the hundreds of
reporters who filled the hall immediately zoomed in on her.
The crowd spontaneously broke into laughter. The woman was unmoved: with
practiced elegance, she placed the water on the single podium on the stage and
walked off the other side.
As if a preview for things to come, 10 minutes later a smiling dark-suited
Xi ambled in, waving to the crowd as he ascended the stage, backed by a sweeping
Chinese painting of the Great Wall atop mountains. The other members of the
Politburo Standing Committee (PSC), dubbed the "dream team" by the official
media, followed in lockstep, with Premier Li Keqiang right behind Xi, then the
other five members, all in dark suits. Taking their places on the stage, they
glanced down at their feet. Observant reporters had noticed earlier that pasted
on the stage floor were seven tiny red markings: a red star flanked by three
dots on each side, showing the new PSC members where to stand.
Xi spoke much more briefly this time compared with his three-and-half-hour
marathon lecture on the opening day of the 19th Communist Party Congress. He
began by thanking the reporters for bothering to come and then proudly detailed
some statistics: 452 major parties of 165 nations sent 855 congratulatory notes,
and 814 of those were from heads of state and "important" organizations.
Then Xi briefly named his colleagues: comrades Li Keqiang, Li Zhanshu, Wang
Yang, Wang Huning, Zhao Leji and Han Zheng -- names the foreign media had
speculated on for days.
Xi hinted his next five-year term would be full of celebrations: next year
is the 40th anniversary of the leader Deng Xiaoping's "reform and opening-up," a
policy that will lead to the "great rejuvenation of the Chinese nation," he
said; the year after, the 70-year-anniversary of the People's Republic of China,
which will be accompanied by "sustained and healthy economic growth." That will
be followed by China becoming a "moderately prosperous society" by 2020. "No one
shall be left behind" on the road to shared prosperity, Xi promised.
The following year, 2021, is the centennial of the Communist Party of
China. The CPC is "the world's largest political party, so it must act
commensurate to that fact," Xi said. The CPC can lead its people to "glorious
social revolution, and it can engage in glorious self-initiated revolution." It
can also be rid of its own "viruses," he said in apparent reference to his
anti-corruption drive.
Perhaps mindful of some Western's media's concerns that the now supremely
powerful Xi would take China back to the one-man rule era of Mao Zedong, Xi
finished his speech by inviting "constructive suggestions," although asserting
he doesn't need anyone's approval. Xi ended his speech by citing a lofty line of
Chinese poetry: "Not angling for compliments, I would be content that my
integrity fills the universe."
The choices for the new leadership hierarchy suggest Xi has not broken all
ties with past practices, Xie Yanmei of Beijing-based analytical firm
Dragonomics said in written comments to questions from MNI. There had been much
speculation that Xi would move toward a so-called "presidential system," turning
the PSC into a smaller group of lieutenants handpicked by Xi in defiance of
retirement age or other strictures. In the end this scenario did not
materialize: the PSC has remained a seven-member grouping not wholly dominated
by Xi's people, Xie said.
The CPC elite apparently were not ready to completely throw out established
convention and all aspects of collective leadership, Xie wrote. Nevertheless,
their destiny is now tied to a single figure; from now on, the Chinese
Communist Party rises and falls with Xi Jinping.
And to a large extent, so too does China's destiny.
--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com
--MNI BEIJING Bureau; +1 202-371-2121; email: john.carter@mni-news.com
--MNI Beijing Bureau; +86 (10) 8532-5998; email: vince.morkri@marketnews.com
[TOPICS: M$A$$$,M$Q$$$,MC$$$$,MT$$$$,MGQ$$$]
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.