The 5th Plenum of the Chinese Communist Party gets underway
It will approve the guidelines of the 14th Five-Year Plan (2021-2025), and those of a medium-term strategy renamed “Vision 2035”. “Double circulation” strategy to combat the effects of the pandemic and US pressures. Xi Jinping could aim for "presidency for life".
Beijing (AsiaNews / Agencies) - The 5th Plenum session of the 19th Communist Party Central Committee (CCP) opened today in the capital. More than 300 delegates gathered to establish the guidelines of the 14th Five-Year Plan (2021-2025), and those of a medium-term strategy renamed “Vision 2035”.
Chinese President Xi Jinping has launched the "dual circulation" strategy to counter the effects of the pandemic and those of the possible "decoupling" (economic separation) from the US. Speaking on October 24 at the Bund Summit in Shanghai, his deputy Wang Qishan explained the focus will be on growth in domestic consumption and innovation in sectors such as microchips, renewable energy, pharmaceuticals and space technology.
According to various experts, Xi wants to revive the Maoist value of "autarchic self-sufficiency", eliminating the country's dependence on exports and foreign markets. The Chinese economy would appear to have emerged from the first phase of the Covid-19 emergency quickest. National GDP has started to grow again, and for many observers the Plenum will underline this result with respect to the difficulties encountered by the United States and Europe.
The Plenum should also approve new working rules of the Central Committee. Analysts claim that this is a new move by Xi to concentrate power at the top of the CCP, and therefore in its hands. They note that the elaboration of an economic plan until 2035 could signal the Chinese leader's desire to transform his mandate into a "presidency for life".
For the contents of the 5th Plenum see: