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Steady and stable
Friday’s Politburo meeting means that the Central Economic Work Conference (CEWC) is likely to be held in the coming days. The CEWC will set the economic agenda for 2017, but judging by the terse Politburo readout, it doesn’t look like there will be any radical shifts of policy. Instead, 2017 will be a year of “deepening” the supply-side agenda announced at last year’s CEWC.
The meeting did mention “agricultural supply-side reforms”, hinting that there might be further movement on rural land contracting rights.
The meeting also said that it would “quicken study and establishment” of a “long-term mechanism” for a healthy real estate market, which implies that we may see progress on instituting a property tax.
But overall, the meeting was most remarkable for its failure to offer (or even hint at) any new thinking. China’s infrastructure-led, debt-fueled economy looks increasingly creaky, and the voices advocating for a re-think have been growing louder over the past two years. For now, however, it looks like the strategy is to continue kicking the can down the road.
| PBSC Week in Review | ||
| Xi Jinping
Party General Secretary; PRC President; |
Dec 9 | Xi chaired a meeting of the Politburo.
Preparatory meeting for Central Economic Work Conference. Meeting also passed Opinions on Strengthening National Security Work.
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| Chairman of Central Military Commission; | Xi spoke at a Politburo study session.
The session focused on governance by law and virtue in Chinese history. Xi said that virtues should play a larger role in governance: “Laws and regulations should promote the virtuous, while socialist core values should be woven into legislation. China University of Political Science and Law professor Zhu Yong spoke at the meeting.
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| Dec 8 | Xi sent a message of condolence to Pakistani President Mamnoon Hussain after a plane crash in Pakistan.
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| Dec 7-8 | Xi spoke at a two-day meeting on ideological and political work in China’s universities and colleges.
Further tightening of the ideological sphere.
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| Dec 7 | Xi held talks with President of the Republic of Gabon Ali Bongo Ondimba.
The two leaders agreed to lift bilateral relations to a comprehensive cooperative partnership.
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| Xi appointed and dismissed ambassadors.
Botswana, Uganda, the Seychelles, Namibia.
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| Dec 6 | Xi chaired and spoke at a joint meeting of the Politburo and non-communist party leaders.
Li Keqiang briefed the meeting about the government’s economic work this year and plans for 2017; attendees put forward opinions and suggestions on issues including supply-side structural reform in the property sector, fiscal and financial support for poverty alleviation, and industrial innovation. The meeting also discussed creating new financing channels for small and medium-sized companies, upgrading the manufacturing sector, fostering new growth, controlling risks in foreign exchange management, and boosting the sharing economy. Leaders of China’s eight non-communist parties and the All-China Federation of Industry and Commerce attended the meeting; Economist Li Daokui attended as a representative of personages without party affiliation.
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| Dec 5 | Xi chaired a meeting of the Central Leading Group for Deepening Overall Reform.
Meeting pledged to step up supervision over SOEs and state assets through auditing, scrutiny over the budgets and uses of state capital. Also said that more focus should be given to managing the structure of state assets, regulating capital use, enhancing capital returns and protecting the safety of capital. Meeting also said that China will seek a unified national natural resource asset management mechanism. Will also put an intellectual property rights management mechanism in place. Guidelines approved also include improving the service capabilities of township governments, taking better care of the country’s elderly, enhancing farmland protection, and piloting national parks for pandas, Siberian tigers and leopards. Meeting said that public opinion should be mustered to support OBOR. Meeting also said that reform priorities for 2017 should be mapped out.
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| Xi spoke at a seminar to commemorate late leader Wan Li’s 100th birthday anniversary.
Full text of his speech (in Chinese).
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| Xi sent a message to Sahvkat Mirziyoyev to congratulate him on his election as President of the Republic of Uzbekistan.
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| Li Keqiang
Premier |
Dec 8 | Li met with Gabon President Ali Bongo Ondimba.
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| Li sent a message of condolence to Pakistani Premier Nawaz Sharif over a plane crash in Pakistan.
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| Li and Icelandic Premier Sigurdur Ingi Johannsson exchanged congratulatory messages on the 45th anniversary of the establishment of diplomatic relations.
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| Dec 7 | Li chaired an executive meeting of the State Council.
The meeting approved major programs to revitalize central regions of China and promote informatization and major national science and technology projects during the 13th Five-Year-Plan period, and passed a draft amendment to control water pollution.
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| Dec 6 | Li attended a joint meeting of the Politburo and non-communist party leaders.
Li briefed the meeting about the government’s economic work this year and plans for 2017.
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| Li met with Chairman of the Senate of Kazakhstan Kassym-Jormart Tokayev.
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| Dec 5 | Li attended a meeting of the Central Leading Group for Overall Deepening Reform.
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| Li met with small business owners attending the 30th anniversary of the China Privately Owned Business Association.
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| Li responded to a letter from navel orange farmers in Ruijin, Jiangxi.
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| Zhang Dejiang
Chair of the |
Dec 8 | Zhang met with Gabon President Ali Bongo Ondimba.
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| National People’s Congress | Dec 7 | Zhang held talks with Abdulla Maseeh Mohamed, speaker of the People’s Majlis, the legislative body of the Maldives.
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| Dec 6 | Zhang held talks with Chairman of the Senate of Kazakhstan Kassym-Jormart Tokayev.
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| Dec 5 | Zhang chaired a symposium celebrating late leader Wan Li’s 100th birthday anniversary.
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| Zhang held talks with Belgian Chamber of Representatives Siegfried Bracke.
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| Yu Zhengsheng
Chair of the Chinese People’s |
Dec 8 | Yu chaired a biweekly consultation session of the CPPCC National Committee.
The session focused on promoting agriculture science and technology. |
| Political Consultative Conference | Dec 6 | Yu attended a joint meeting of the Politburo and non-communist party leaders. |
| Dec 5 | Yu met with Belgian Chamber of Representatives Siegfried Bracke.
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| Liu Yunshan
Head of Party Secretariat; Head |
Dec 7-8 | Liu attended and spoke at a two-day meeting on ideological and political work in China’s universities and colleges.
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| of Propaganda | Dec 6 | Liu attended a joint meeting of the Politburo and non-communist party leaders.
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| Dec 5 | Liu attended a meeting of the Central Leading Group for Overall Deepening Reform.
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| Liu attended a symposium celebrating late leader Wan Li’s 100th birthday anniversary.
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| Wang Qishan
Secretary of the Central Commission for |
Dec 7-8 | Wang attended a two-day meeting on ideological and political work in China’s universities and colleges. |
| Discipline Inspection | Dec 5-6 | Wang chaired a symposium attended by senior disciplinary inspectors from provincial regions and solicited opinions on drafting a regulation on the work of CPC discipline inspection agencies in Zhenjiang, Jiangsu.
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| Zhang Gaoli
Executive Vice Premier |
Dec 8 | Zhang attended and spoke at the Annual General Meeting of the China Council for International Cooperation on Environment and Development.
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| Dec 7-8 | Zhang attended a two-day meeting on ideological and political work in China’s universities and colleges.
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| Dec 6 | Zhang attended a joint meeting of the Politburo and non-communist party leaders.
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| Dec 5 | Zhang attended a meeting of the Central Leading Group for Overall Deepening Reform.
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| Zhang met with Iranian Foreign Minister Mohammad Javad Zarif.
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| About CPW
China Politics Weekly aims to keep business leaders, investors, diplomats, scholars and other China hands up to date on important trends in China. It is produced by Trey McArver, a London-based consultant providing advice and intelligence to firms and investors engaged in China and the region. You can find out more about Trey and CPW in this interview.
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