A likely third term for Xi Jinping, the showcasing of the E-yuan and the future of the COVID-Zero strategy will all be important over the next 12 months.
China has a momentous year ahead, book-ended by the Winter Olympics and the 20th National Party Congress., at the 6th plenum of the Central Committee of the Chinese Communist Party .For reference, from 1982, China’s constitution had stipulated that the President could not serve more than two consecutive terms.
The “two centenaries” are generally viewed as a yardstick here. The first occurred last year, with the 100th anniversary of the founding of the CCP. In a major speech on July 1, Xi duly announced that China had realised its stated goal of “building a moderately prosperous society in all respects”. The Winter Olympics commencing in early February was always going to be important to Xi. Bear in mind that he was given political responsibility for the Beijing Olympics in 2008, a year after ascending to the Politburo Standing Committee.First, it has maintained its COVID-Zero strategy for nearly two years now. Granted the means of doing so have been invasive and draconian, and probably not sustainable beyond next year. Still, for a country of 1.
The methodical rollout confirms Beijing overarching ambitions with the project, which extend to wresting control of the payment system back from WeChat and Alipay, and the internationalisation of the yuan.The Winter Olympics will come to be viewed as the de facto launch of the E-yuan to the world.
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