China’s National Congress names President Xi to another 5 years and announces two initiatives

October 20, 2017 – The 19th National Congress of the Chinese Communist Party began October 18th with a marathon speech of three-and-a-half hours by China’s president and party chief, Xi Jinping, who will lead the party for another 5 years.


Already the most dominant Chinese leader in decades, Xi is expected to further consolidate his power at the weeklong leadership reshuffle event, held every five years. His speech outlines China’s policy direction in all major fields until the next congress, or even longer.

Two major initiatives include:
The reinforcement of regulations to monitor public-private partnership (PPP) projects as part of its efforts to prevent illegal borrowing by local governments, said a senior official with the nation’s top economic regulator.
China has put two vigorous graft-busters into top positions at the country’s banking and insurance regulatory commissions — a strong message that upgraded anti-corruption investigations can be expected throughout China’s financial system.

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