Toward a future of shared prosperity

The just concluded 19th National Congress of the Communist Party of China will be remembered as an epoch-making event. The inclusion of "Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era" into the Party Constitution has put General Secretary Xi Jinping into the privileged league of Mao Zedong and Deng Xiaoping.

Two of Xi's initiatives, strict Party governance and the Belt and Road Initiative, too, have found their way into the Party Constitution.

Xi has identified that threats to sustained economic development stem from the gap between the rich and the poor, and environmental hazards. Hence, his development policy has shifted to making economic growth balanced and participatory. By demanding the reform of the global economic governance system, Xi has made a strong case to develop a model for fair and equitable governance that reflects the realities of modern times.