On October 18, 2017, the 19th Congress of the Communist Party of China was inaugurated. At this event, President Xi Jinping received from CPC delegates a new five-year term as head of China. Communist Party delegates also enshrined Xi Jinping ideology of “Chinese-style socialism for a new era” in the CCP constitution. This recognition ensures the continuation and development of the “Belt and Road” initiative, the new Silk Roads being one of the key measures developed by President Xi Jinping.
This 19th Congress thus consolidates the Chinese desire to revive the Silk Roads. The vision of China defined by President Xi Jinping can only satisfy European partners.
A wider opening
Several points in China President’s speech will be of direct interest to European companies. First, President Xi Jinping reaffirmed China’s willingness to continue to open the economy to foreign investment. The Chinese president said that China must offer fair and equal treatment to all companies, domestic or foreign. We can therefore expect a greater opening of certain economic sectors. It also means new opportunities for foreign companies to get involved in the Belt and Road initiative.
The new mandate given to XI Jinping demonstrates CCP’s confidence in continuing reforms and transforming the economy into a more innovative society and implementing the “made in China 2025” strategy.. As announced by Xi Jinping in his speech, China will continue to support innovation-related sectors. This could create new high-tech partnerships with foreign companies and research institutes.
Fighting against corruption
The fight against corruption has been a major focus of President Xi Jinping since he came to power. At this congress, Xi Jinping reaffirmed his commitment to fight corruption and promote a fairer society. This commitment to the rule of law should reassure all foreign partners. We can also hope that China will promote the principles of good governance for all projects related to the new Silk Roads.
Strengthening international cooperation
In his speech, President Xi Jinping reiterated the importance of international cooperation, and noted that even China alone cannot cope with the challenges posed by global warming. In this statement we can see China’s willingness to be fully involved in world affairs. This commitment may give priority to sustainable development projects along the new Silk Roads and the search for new partners for the “Belt and Road” initiative.
Xi Jinping’s China will be more active in world affairs, and the Belt and Road initiative will be one of the main illustrations of this ambition.