Below trend growth to continue
Could Xi Jinping extend his leadership beyond his third term?
The latest transition of China’s leadership – which occurs every five years at a major party congress – took place in mid-October. As expected, the congress confirmed Xi Jinping’s third term as President (an extension that until recently would have been prohibited, as term limits applied between 1982 and 2018), while the appointments to the Politburo Standing Committee (PSC) suggest that Xi’s influence has increased, with allies now filling all positions on the committee. One notable issue that the congress failed to address was potential leaders post-Xi, with a lack of younger officials appointed to the PSC, increasing the likelihood that President Xi will lead beyond his third term.
For further details, please see the China Economic Update – (November 2022)
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