• Home
  • Politics
  • Health
  • World
  • Business
  • Finance
  • Tech
  • More
    • Sports
    • Entertainment
    • Lifestyle
What's Hot

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
Facebook Twitter Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
Friday, May 9
Patriot Now NewsPatriot Now News
  • Home
  • Politics

    Security video shows brazen sexual assault of California woman by homeless man

    October 24, 2023

    Woman makes disturbing discovery after her boyfriend chases away home intruder who stabbed him

    October 24, 2023

    Poll finds Americans overwhelmingly support Israel’s war on Hamas, but younger Americans defend Hamas

    October 24, 2023

    Off-duty pilot charged with 83 counts of attempted murder after allegedly trying to shut off engines midflight on Alaska Airlines

    October 23, 2023

    Leaked audio of Shelia Jackson Lee abusively cursing staffer

    October 22, 2023
  • Health

    Disparities In Cataract Care Are A Sorry Sight

    October 16, 2023

    Vaccine Stocks—Including Pfizer, Moderna, BioNTech And Novavax—Slide Amid Plummeting Demand

    October 16, 2023

    Long-term steroid use should be a last resort

    October 16, 2023

    Rite Aid Files For Bankruptcy With More ‘Underperforming Stores’ To Close

    October 16, 2023

    Who’s Still Dying From Complications Related To Covid-19?

    October 16, 2023
  • World

    New York Democrat Dan Goldman Accuses ‘Conservatives in the South’ of Holding Rallies with ‘Swastikas’

    October 13, 2023

    IDF Ret. Major General Describes Rushing to Save Son, Granddaughter During Hamas Invasion

    October 13, 2023

    Black Lives Matter Group Deletes Tweet Showing Support for Hamas 

    October 13, 2023

    AOC Denounces NYC Rally Cheering Hamas Terrorism: ‘Unacceptable’

    October 13, 2023

    L.A. Prosecutors Call Out Soros-Backed Gascón for Silence on Israel

    October 13, 2023
  • Business

    Trump Announces First Post-Tariff Trade Deal

    May 8, 2025

    Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

    May 7, 2025

    Tyson Foods Announces It Will Bend The Knee To Trump Admin’s New Rules

    May 7, 2025

    Federal Reserve Holds Interest Rates Steady Despite Pressure From Trump

    May 7, 2025

    ‘Wait Them Out’: John Kennedy Tells Larry Kudlow One Lie He Suspects China’s Telling US

    May 7, 2025
  • Finance

    Ending China’s De Minimis Exception Brings 3 Benefits for Americans

    April 17, 2025

    The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

    April 17, 2025

    Tariff Talks an Opportunity to Reinvigorate the Japan-US Alliance

    April 17, 2025

    How China’s Companies Are Responding to the US Trade War

    April 16, 2025

    The US Flip-flop Over H20 Chip Restrictions 

    April 16, 2025
  • Tech

    Cruz Confronts Zuckerberg on Pointless Warning for Child Porn Searches

    February 2, 2024

    FTX Abandons Plans to Relaunch Crypto Exchange, Commits to Full Repayment of Customers and Creditors

    February 2, 2024

    Elon Musk Proposes Tesla Reincorporates in Texas After Delaware Judge Voids Pay Package

    February 2, 2024

    Tesla’s Elon Musk Tops Disney’s Bob Iger as Most Overrated Chief Executive

    February 2, 2024

    Mark Zuckerberg’s Wealth Grew $84 Billion in 2023 as Pedophiles Target Children on Facebook, Instagram

    February 2, 2024
  • More
    • Sports
    • Entertainment
    • Lifestyle
Patriot Now NewsPatriot Now News
Home»Finance»Xi’s Rare Symposium With Business Leaders Hints at Third Plenum Agenda
Finance

Xi’s Rare Symposium With Business Leaders Hints at Third Plenum Agenda

May 28, 2024No Comments6 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Xi’s Rare Symposium With Business Leaders Hints at Third Plenum Agenda
Share
Facebook Twitter LinkedIn Pinterest Email

Beginning on May 22, China’s top leader, Xi Jinping, embarked on an inspection tour of Shandong, China’s third-largest provincial economy. The following day, he presided over a symposium in Jinan, marking the first such convocation of business leaders and experts since late 2020. High-ranking members of the Politburo Standing Committee, including Wang Huning, chairman of the Chinese People’s Political Consultative Conference, and Cai Qi, director of the General Office of the Central Committee, were also in attendance.

Xi’s symposium in Shandong is a critical indicator of the themes and priorities expected to dominate the forthcoming Third Plenum of the Communist Party’s Central Committee, which is scheduled for July. The symposium’s panel featured six business executives from state-owned, private, and multinational enterprises, alongside three prominent economists. This diverse assembly, including high-profile foreign business leaders such as Isabel Ge Mahe from Apple and Yin Zheng from Schneider Electric China, underscored the international dimension of the gathering and signaled an effort to integrate global perspectives into China’s economic policymaking. 

According to the Xinhua News Agency, attendees proposed comprehensive reforms, such as deepening electricity system reforms, leveraging technology to upgrade traditional industries, and enhancing the macroeconomic governance framework.

Such high-level engagements between Chinese leadership and business experts are rare; Thursday’s symposium marked only the third instance of its kind since 2018. The inclusion of distinguished neo-Keynesian economists at the recent assembly suggested a possible recalibration of the administration’s strategy: Post-Third Plenum macroeconomic policies might embrace a more proactive approach, departing from the conservative fiscal policies that have defined recent years.

See also  Robert Shiller says decade-long rally in home prices could end when the Fed wraps its hiking cycle

During the symposium, Xi Jinping called for the resolute dismantling of institutional barriers hindering Chinese-style modernization, emphasizing the need for systematic and integrated reforms. He highlighted the importance of addressing critical areas such as employment, income growth, education, healthcare, and housing. Xi urged the implementation of measures that tackle urgent public needs and garner broad support.

Analysts indicate that the most pressing “institutional barriers” to be tackled encompass China’s stringent household registration system and tax-revenue sharing framework. With China’s urbanization rate already elevated, the government may initiate land and household registration reforms following the Third Plenum to invigorate demand. This could potentially involve enabling farmers to trade partial land ownership for urban home purchase rights, thereby reducing housing inventory.

Xi emphasized that the Central Committee conducts thorough research and widely solicits opinions before making major decisions. He assured that suggestions from business and expert representatives would be seriously considered and incorporated. However, the symposium should be seen not merely as a forum for policy input but as a strategic signaling device. 

Given the short interval between the symposium and the Third Plenum, it is unlikely that the participants’ suggestions will significantly alter the plenum’s agenda. Instead, the composition of delegates and the issues discussed convey a powerful message to both domestic and international observers. This carefully curated assemblage reflects Beijing’s intent to project a pro-reform, pro-business image amid wavering confidence in China’s economic trajectory.

The timing of the symposium, just ahead of the July plenum, is a calculated move to demonstrate to the international community that China remains open for business. By inviting foreign executives and showcasing their participation, Xi’s administration aims to counteract negative perceptions and reassure global investors of China’s pro-business stance. This deliberate move is designed to project an image of inclusiveness and responsiveness, crucial for attracting and retaining foreign investment amidst economic headwinds.

See also  The US Indo-Pacific Strategy’s Weakest Link

Additionally, the symposium serves as a deliberate communication to the domestic private sector, affirming the administration’s support and willingness to listen to their concerns. The presence of prominent private business leaders underscores the message that Beijing values their role in the economy and seeks to foster a more favorable business environment. This signaling is vital for boosting domestic business confidence and encouraging investment, key components for sustaining economic growth.

However, it is imperative to temper expectations with a dose of realism. Xi’s administration remains steadfast in its commitment to “Chinese-style modernization,” a model that diverges from Western paradigms by emphasizing state power to bolster industrial capabilities, favoring domestic over foreign enterprises, and prioritizing production over consumption. This approach continues to be a cornerstone of Xi’s economic philosophy.

Market skepticism regarding China’s economic prospects has been simmering for years. Under Xi’s leadership, China has adopted a more security-focused, insular, and authoritarian stance, raising doubts about its commitment to reform. Recent actions, such as raids on foreign consultancies and firms, exacerbate these concerns and erode investor confidence, casting doubt on whether China will sustain the open, reform-oriented policies that underpinned its past economic successes.

Xi’s administration is unlikely to compromise on core political principles or Communist Party leadership. The proposed reforms will focus on enhancing economic efficiency and innovation within the parameters of the existing political framework, thereby ensuring the preservation of political stability and continuity.

A major challenge confronting Xi’s administration is the eroding confidence, particularly evident in the ongoing decline of the property sector despite recent government efforts to rejuvenate it – such as lowering mortgage interest rates and implementing a 300 billion yuan relending facility. These measures have been criticized as “too little, too late.”

See also  XRP Short Traders Log Highest Losses in 2023 After Landmark Court Ruling

Fundamentally, the issue is not a lack of government intervention or its perceived inadequacy. Rebuilding confidence, following years of stringent regulatory crackdowns and the economic downturn induced by COVID-19, will be a prolonged and arduous process. The pervasive lack of trust in Chinese policymakers’ ability to manage a slowing economy is clear, with market participants demanding more substantial policy interventions before reconsidering their bearish stance on the Chinese market, let alone recommitting to it.

Moreover, broader economic and demographic trends further complicate China’s economic prospects. Declining birth rates, an aging population, challenges in transitioning to cleaner energy sources, secular shifts in global supply chains, and international geopolitical tensions present structural headwinds to demand that are unlikely to reverse in the short term. Coupled with the present economic slowdown, these factors suggest that the path to recovery will be long and fraught with difficulties.

Xi Jinping’s Shandong symposium conveys a pro-reform stance, but rhetoric alone will not suffice. Concrete actions and substantial policy shifts are essential to restore confidence in China’s economic trajectory.

Agenda Business Hints Leaders Plenum rare Symposium XIs
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Chinese Manufacturers Flood TikTok To Subvert Trump’s Tariff Agenda

April 28, 2025

Business Experts Sound Alarm On DEI Initiatives In Corporate America

April 22, 2025

Ending China’s De Minimis Exception Brings 3 Benefits for Americans

April 17, 2025

The Trump Tariff Shock Should Push Indonesia to Reform Its Economy

April 17, 2025
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Alibaba’s Ex-CEO Zhang Quits as Ma’s Lieutenants Take the Helm

September 10, 2023

How To Get Started With CBD

April 17, 2023

Saudis Will Compensate PGA Loyalists Who Spurned Saudi Cash

June 16, 2023

Major Banks Bend The Knee To Climate Activists, Accelerate Plans To Cut Coal Investments

March 4, 2023
Don't Miss

Trump Announces First Post-Tariff Trade Deal

Business May 8, 2025

President Donald Trump announced Thursday the U.S. has reached a trade agreement with the U.K.,…

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025

Electric Vehicle Sales Nosedive As GOP Takes Buzzsaw To Biden’s Mandate

May 7, 2025
About
About

This is your World, Tech, Health, Entertainment and Sports website. We provide the latest breaking news straight from the News industry.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest
Categories
  • Business (4,110)
  • Entertainment (4,220)
  • Finance (3,202)
  • Health (1,938)
  • Lifestyle (1,626)
  • Politics (3,084)
  • Sports (4,036)
  • Tech (2,006)
  • Uncategorized (4)
  • World (3,944)
Our Picks

Simone Biles Charges Racism in Viral Irish Gymnastics Video

September 25, 2023

1,000 Years Old Ancient Maya Grave Found In Mexico

September 26, 2023

Uber Accused Of Increasing Prices When User’s Phone Battery Is Low: Report

April 14, 2023
Popular Posts

Trump Announces First Post-Tariff Trade Deal

May 8, 2025

100 Funny Father’s Day Quotes for Hilariously Relatable Humor (and Plenty of Love Too)

May 8, 2025

Top 10 Benefits Of Acupuncture

May 8, 2025
© 2025 Patriotnownews.com - All rights reserved.
  • Contact
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.