What a Defiant Xi at the Party Congress Tells Us
Xi's newfound focus on technological competition and geopolitics may signal easing of China’s regulatory crackdowns and Covid Zero.
Looking ahead.
Photographer: NOEL CELIS/Getty ImagesAnyone wanting to know what China will do in the next five years needs to read President Xi Jinping’s speech, delivered at the opening of the twice-a-decade party congress on Sunday.
Historically, the Communist Party’s leader would use the opening remarks to advocate for why the party was the right one to rule China and its vision for the future. While these speeches tend to be high level and devoid of concrete policies, key slogans often materialize into important legislations that would change the Chinese economy. For instance, at the previous party congress in 2017, Xi warned that “housing is to be lived in, and not speculated on.” A real estate crackdown ensued, and home prices have been in decline for at least one year.