"Xi Political Economics" Takes Shape

(Xinhua News Agency, March 13, 2016. Complete text:) Beijing - President Xi Jinping’s insights on China’s political and economic development, dubbed "Xi political economics," have reverberated through the Great Hall of the People throughout the yearly key political events.

Following Marxist political economics, Xi political economics has developed to reflect China’s specific conditions and development practice, Hu Angang, a professor at Tsinghua University, wrote in an opinion piece published by the People’s Forum magazine.

The Xi political economics has been evident in a number of speeches given by the president, who is also general secretary of the Communist Party of China Central Committee, during the two sessions, the annual sessions of the National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC) National Committee.

Continuing Marxism’s emphasis on the people, Xi said the people are always at the center of his strategies.

"We need to motivate frontline workers, industrial workers and migrant workers, as required by socialism," Xi told national legislators from Shanghai. "The working class are the masters."

China aims to complete the building of a moderately prosperous society in all respects by 2020, and pursues common prosperity for its citizens. Poverty reduction, an inherent task in the process, has been flagged by Xi as one top priority for the years to come.

Underscoring Xi’s unwavering attention to poverty reduction, he raised the topic on occasions when engaging with NPC deputies who represent China’s ethnic minorities.

It is imperative that China eradicate the poverty weighing down ethnic minorities, peasants and herdsmen, he said.

For that to happen, a healthy, sustainable development of economy is a basic requirement.

In Xi political economics, socialism is the institutional guarantee for all Chinese people to gain from economic development, and policies that benefit both the private and state-owned enterprises should be promoted.

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