China's 'new era' will see Party power resurgent
Keyword(s):
New Era
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Subject Xi Jinping's second term. Significance The 'new era' announced by President Xi Jinping at the 19th Party Congress in October will get fully underway when the election of a new National People's Congress and associated appointments next March complete the five-yearly handover to a new cohort of national leaders. In important ways, however, it has already begun. Impacts Compliance costs will rise for enterprises, particularly foreign ones. The private sector will rely more than previously on patron-client relations rather than competitiveness. Government efforts to promote innovation will focus on technology.