The political languages in today’s report from 19th Party Congress by XI could look obscure for many. But underlying, critical wording sent crucial messages.
A first thing we got answers is about the country’s DIRECTION for coming decades, which we think in line with our expectations and even beyond (attached was what we called).
Officially, XI highlighted a historical change from what set by DENG Xiaoping since 1980s:
• China is entering a “NEW ERA”, and the key task is to address "unbalanced and incomplete development" with "people's ever-growing demand for a better life", which is different from previous decades defined by DENG since 1980s, to address “the low level of production” with “people's ever-growing material and cultural needs”.
• This implies the top priority is officially shifting from Growth towards Quality – a reaffirmation of what has been initiated in recent years, and at the highest level to be written into Party Constitution as a top guideline for coming decades.
• How to achieve it is to “deepen reforms”, including “Supply-side Structural Reforms” on economic side.
Regarding what reform focuses and official reshuffles, we are waiting for more details to come.
For now, it looks that Xi is in firm control as the “CORE” leader