According to Xi Jinping, the Communist Party will make every effort to turn China into one of the leading world powers in the manufacturing and transport industries, space exploration, and network technologies. The general secretary of the Communist Party declared China is set to cement its position as a world leader.
President Xi sees the high-quality development of the latest technologies as the main driving force for China’s economy. The Chinese leader bets on the expansion of domestic demand and changes in supply. Speaking at the 20th National Congress of the Communist Party on behalf of the 19th CCP Central Committee, Xi stressed the need to create a new economic system by increasing productivity and enhancing the manufacturing cycle and supply chain efficiency.
The Chinese leader also underlined the importance of stronger public and non-public economic sectors. He pinpointed the market’s fundamental role in the distribution of resources and underlined the significance of state regulation.
Xi declared China’s intent to create a modern production system to meet the current market challenges. This would transform the country into the world’s leading manufacturing, space, transport, and IT power.
The CCP’s general secretary is determined to improve the competitiveness of national industries, strengthen the country's security, and boost the supply of strategically important resources. President Xi stressed the importance of food security and the creation of production cycles and supply chains.
The 20th Congress of the Chinese Communist Party will be held from October 16 to October 22. About 2,300 party delegates will gather in Beijing to recap the CCP’s five-year progress and set new targets and objectives for the next five years.
After the closing of the Congress, the first Plenary Session will be held to select new central leadership – the Politburo and Politburo Standing Committee. Xi Jinping is widely expected to secure the third term as the CCP’s head.
