The main topic on the agenda for China’s leadership will be further economic liberalisation.
The Chinese Communist Party Central Committee, the country’s top decision-making body, will hold its Third Plenum meeting today through Wednesday to address high-ranking leadership positions and Mr Xi’s vision for China’s future.
While the Third Plenum is traditionally held in autumn, Mr Xi has opted to preempt March’s annual legislative meetings. China’s leader has expressed commitment to further economic liberalisation for this year’s agenda, lowering barriers to international investment and potentially tying the yuan to the market.
Reports suggest that Liu He, one of Xi’s most senior advisors, will be handed leadership of the People’s Bank of China, opening the door for appointment as vice premier of the economy next week.
This comes as China has lifted presidential term restrictions as of yesterday, clearing a path for Xi Jinping to remain in power beyond 2023. Mr Xi appears set on creating a vast legacy, with the ability to hold power for the foreseeable future and momentum for debt-reduction and investment reforms.
Additionally, look for Liu to address China’s economic concerns when he meets with Washington officials this week.