Time for change, China cannot rely on old development model, says Xi Jinping

Xi Jinping says China should build reliable domestic production and supply chain

Beijing:

President Xi Jinping said on Saturday that China can no longer rely on its previous model of economic development dependent on global exports and to build self-controlled, safe and reliable domestic production and supply systems to ensure industrial and national security. necessary.

The closing session, chaired by Xi of the ruling Chinese Communist Party, CPC (CPC), adopted his proposals to form the 14th Five-Year Plan (2021-2025).

While the 14th Five-Year Plan envisions a large-scale overhaul of the country’s domestic market to boost consumption to reduce China’s dependence on export markets, Vision 2035 is a long-term plan, in which the development of Xi’s point of view is displayed. Politically, Xi’s Vision 2035 plan has led to speculation he could stay in power for the next 15 years.

Xi, 67, became the most powerful leader of the CCP after its founder, Mao Zedong, with the prospect of a life as president, in addition to serving as the CCP’s general secretary.

A 2018 constitutional amendment removed the president’s two-year term limit, allowing Xi to remain in power for life. His second term as president will expire in 2022.

“We should not just reproduce the previous model, but try to shape the new industrial chain to strengthen technological innovation and import substitution, which are the key to deepen structural reforms on the supply side and achieve a better development. , “Xi was quoted in an article published in Xi’s official newspaper, Qishi.

Xi said that “to ensure China’s industrial security and national security, we must build self-controlled, safe and reliable national production and supply chains.”

“We should try at least an alternative source for critical products and supply channels to create an important industrial safeguard system,” Xi said.

The entire Chinese industrial chain has played an important role during the COVID-19 outbreak by ensuring the availability of critical materials for the prevention and control of the outbreak. However, the public health crisis has also highlighted the risks in the national supply chain and the industrial chain, Xi said.

Declining global markets and US President Donald Trump’s trade war have affected China’s status as a global factory.

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