China's 19th National Party Congress Begins

Chinas long-awaited 19th National Party Congress kicked off today in Beijing with a three-hour marathon speech by President Xi Jinping. Flanked by former presidents Hu Jintao and Jiang Zemin, Xi reviewed the major accomplishments of the past five years including the anti-corruption campaign, improved living standards, and enhanced law and order and national security. He also promised to build a "beautiful China" with cleaner air and a more responsive government. Xi vowed to build a "modern socialist country" and promised to keep Chinas economy open to the world. China will relax market access for foreign investment and deepen market-oriented reforms of the exchange rate and financial sector. He mentioned Chinas construction efforts in the South China Sea and warned against separatist activities in Hong Kong, Taiwan, Tibet and Xinjiang.

 

The meeting is expected to last until October 24. The meeting is expected to formally confirm President Xi for a second term, appoint new leaders to the Politburo Standing Committee and set the tone for government policy for the next five years.

 

Stay tuned for further analysis of the meetings outcomes next week. AmCham Shanghai will also be hosting a 19th Party Congress Outcomes event on October 27.