On the National Day of the People’s Republic of China, Oct.1, the Chinese Communist Party (CCP) ‘s general secretary Xi Jinping published an article stating that China has “never been closer” to completing national rejuvenation.
But, according to South China Morning Post, Xi notes that the final stretch will be fraught with difficulties and challenges.
Xi did not specifically address the challenges and difficulties mentioned in the article.
However, according to observers, China is facing a series of complicated pressures both at home and abroad, such as pressure from US competition, rising tensions in the Taiwan Strait, the war against the Covid-19 pandemic, and the economy stagnating.
In a report released on September 27, the World Bank (WB) lowered China’s growth outlook to 2.8% for this year, down quite a lot from the 5% forecast in April.
On September 30, Premier Li Keqiang, in his speech before the National Day gala, urged local governments to take immediate action to stabilize the economy.
Li said in his speech, “Our economy right now is facing many challenges and difficulties.”
Xi made this comment two weeks before the CCP held its 20th National Congress.
The 20th Congress will elect 200 members of the Party Central Committee. The Central Committee then voted to elect 25 Politburo members, and the Politburo Standing Committee consisted of 7 members.
Xi is considered to have many opportunities to stay in office after the Congress.