Monday, May 29, 2023
HomeEconomyThe 20th Chinese Communist Party Congress: What you need to know

The 20th Chinese Communist Party Congress: What you need to know

(Reuters) – The Chinese Communist Party’s 20 National Congress opened on Sunday as Xi prepares to complete his third five-year term – a term that will ensure his status since The most powerful ruler of China since the founding of Mao Zedong.

Little is known about who will be promoted to what key positions in the Politburo and its seven-member Standing Committee. Here are some leading contenders and some things to watch out for.

Leaders face difficult times. The world’s second-largest economy is slowing and its investment and property-led model may face a painful rebalancing.

Property developers, in particular, have postponed debt-restructuring action until Congress, hoping the gathering sheds light on how Beijing plans to stabilize the troubled industry.

There are also questions about whether and how Beijing will withdraw from its strict zero-coronavirus policy, as well as rising tensions and several high-profile protests in Taiwan. This year’s question. Markets are closely watching how Beijing responds to these challenges.

Meanwhile, the capital is stepping up security and COVID containment for a five-year event that brings together 2,300 party members in the vast Tiananmen Square on the Great Hall of the People. Images circulated on social media on Thursday showing authorities removing a rare political protest banner from an overpass in Beijing.



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