logo
Is Xi Jinping's dream of being China's 'president for life' unravelling?

Is Xi Jinping's dream of being China's 'president for life' unravelling?

First Post18 hours ago
After over a decade of unchallenged authority, Xi Jinping is showing signs of stepping back. From skipping key summits like Brics in Brazil to quietly redistributing the Chinese Communist Party control, China's most dominant leader since Mao may be preparing for a shift. Is the era of Xi as 'president for life' beginning to fade as the 2027 Party Congress approaches? read more
Chinese President Xi Jinping arrives at the Kremlin to attend a festive concert, held on the occasion of the 80th anniversary of the victory over Nazi Germany in World War Two, in Moscow, Russia, May 8, 2025. File Image/RIA Novosti via Reuters
Chinese President Xi Jinping is beginning to relinquish some of his long-held control over the operations of the Chinese Communist Party (CCP).
For the first time in his leadership, key responsibilities are being passed down to Party institutions and senior colleagues, a move that experts see as significant given Xi's history of centralising power.
In late June, the Politburo — China's core political decision-making body — examined a new framework regulating Party-affiliated organs. These bodies, known as central commissions and leading groups, have played a growing role in Chinese governance throughout Xi's tenure.
STORY CONTINUES BELOW THIS AD
According to Xinhua, these groups are expected to focus on 'planning, discussing and checking on major matters.'
This redefinition of duties aims to strengthen coordination across Party institutions, which have increasingly taken on functions that were once the domain of state agencies.
Most of these organisations were either created or given expanded authority under Xi, especially in sensitive sectors such as finance, science and technology, cybersecurity and national security.
Some of these entities have already begun operating under the leadership of figures other than Xi, including Premier Li Qiang, Vice Premier Ding Xuexiang, and Cai Qi, Xi's chief of staff.
CCP devolves under Xi Jinping
Over the last decade, the CCP has overhauled several state functions by transferring authority to Party-led mechanisms. During Xi's rule, the creation or elevation of 'leading small groups' into 'central commissions' has become a recurring strategy to assert direct Party oversight.
This transformation has affected multiple policy areas, including economic reform, religious affairs, and overseas Chinese relations.
A notable example is the transformation of the group overseeing Hong Kong and Macau. Initially a modest entity, it was upgraded to a Party commission in 2020 and took control from the previously dominant State Council-based office.
Similar structural changes were implemented in 2023, where commissions on finance and science were placed under Li Qiang and Ding Xuexiang, respectively.
The cyberspace commission, a critical agency for China's internet governance and data regulation, is now chaired by Cai Qi.
Xi's muted visibility
Xi Jinping's recent absences from major international events have also drawn attention. For the first time since assuming the presidency, he did not attend the Brics summit, held this year in Rio de Janeiro.
Chinese Premier Li Qiang led the Chinese delegation. This followed a similar pattern in 2023, when Xi skipped the G20 summit in India.
STORY CONTINUES BELOW THIS AD
Between May 21 and June 5, Xi did not appear in public for 14 consecutive days. This unusually long silence, uncharacteristic for the Chinese president, added to questions about shifts in his leadership style.
Additionally, a new Revolutionary Memorial Hall opened in Shaanxi Province was not named after Xi's father, Xi Zhongxun, despite expectations to the contrary.
Xi Zhongxun was a senior figure in the Party, and the absence of his name from the hall stood out amid Xi Jinping's otherwise consistent emphasis on his revolutionary lineage.
Xi Jinping, China's 'president for life'
Xi Jinping's current authority stems from a series of institutional reforms and leadership consolidations that began when he assumed power in 2012.
He rapidly ascended through the ranks, simultaneously holding the top three positions in China's political structure: General Secretary of the Communist Party, President of the country, and Chairman of the Central Military Commission.
Soon after taking office, Xi launched a sweeping anti-corruption campaign that penalised over a million Party members and removed several high-ranking military officers. This effort bolstered his standing as an uncompromising reformer and helped dismantle potential opposition.
STORY CONTINUES BELOW THIS AD
During his second term, Xi's political clout was further cemented when he was formally designated as the 'core leader' of the CCP — a title previously reserved for Mao Zedong.
In 2018, the National People's Congress approved a constitutional amendment eliminating the two-term limit for the presidency. This cleared the way for Xi to pursue a third term, which he secured in 2022 as General Secretary, followed by re-election as president in 2023.
With this shift, Xi diverged from all his predecessors, who voluntarily stepped down after two five-year terms. His continuation in office without term limits earned him the unofficial title of 'President for Life.'
Headwinds challenging Xi's power
Despite his ironclad hold on power, Xi's tenure has not been without controversy or crisis. His handling of the Covid-19 pandemic faced widespread criticism, both domestically and internationally.
When the virus emerged in late 2019, doctors who first raised alarms were detained, and Xi remained silent publicly until January 20, 2020, despite being briefed on the outbreak on January 7. This delay is widely viewed as a lost opportunity to contain the virus early.
The subsequent enforcement of the 'zero-Covid' policy involved mass lockdowns, forced quarantines and extensive travel restrictions. Though initially hailed as a success, the policy eventually crippled China's economy and triggered rare public demonstrations.
STORY CONTINUES BELOW THIS AD
Its sudden reversal in December 2022 left millions un-vaccinated, particularly the elderly and raised questions about planning and transparency. By July 2022, only 51 per cent of citizens over the age of 80 had received a single vaccine dose, compared to 93 per cent in Japan.
Economic challenges have also heated up. When Xi first came to power, China's GDP grew at 7.8 per cent in 2013, already slower than previous years. Since then, growth has steadily declined.
Promises to double the size of the economy by 2035 remain far off-track amid a slowing property sector, declining exports and regulatory crackdowns on private enterprises.
In foreign policy, Xi's assertive posture has alienated several regional neighbours. China's expansive claims in the South China Sea, under the so-called 'nine-dash line,' have escalated tensions with countries like the Philippines, Vietnam and Indonesia, pushing them closer to the United States — an outcome contrary to Beijing's strategic objectives.
STORY CONTINUES BELOW THIS AD
Dissent within the top ranks
Xi's leadership has also seen repeated purges of top-level officials, indicating an undercurrent of instability within the CCP's upper echelons. In 2023 alone, Defence Ministers Wei Fenghe and Li Shangfu were removed from office.
That same year, Foreign Minister Qin Gang — formerly ambassador to the US and a fluent English speaker — disappeared from public view just months into his role.
While Wei and Li were reportedly ousted over corruption charges, no explanation has been offered for Qin's removal.
The expulsion of Admiral Miao Hua from the Central Military Commission — the apex command structure of China's armed forces — further suggests discord within the military leadership.
These developments, though rarely acknowledged in state media, hint at fractures inside the tightly guarded corridors of Chinese power.
Although Xi continues to dominate headlines — appearing on the front page of People's Daily 157 times between April and June 2025 — there are clear signs that the monolithic image of his rule is being tested.
What next ahead of CCP's National Congress in 2027?
Xi Jinping turned 72 in June this year. The next significant milestone in China's political calendar is the 21st National Congress of the Communist Party, scheduled for 2027.
That event will mark the end of Xi's third term as General Secretary and could provide clarity on whether he plans to remain at the helm or initiate a phased handover of responsibilities.
STORY CONTINUES BELOW THIS AD
Although some analysts have suggested that recent developments could indicate preparations for succession, others note that no apparent successor has been identified.
Unlike previous leaders, Xi did not promote a designated heir at the end of his first term in 2017 and has refrained from doing so since.
Also Watch:
With inputs from agencies
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

NSE GIFT City exchange plans first equity listing in foreign currency
NSE GIFT City exchange plans first equity listing in foreign currency

Business Standard

time14 minutes ago

  • Business Standard

NSE GIFT City exchange plans first equity listing in foreign currency

The NSE IX exchange, situated in the financial hub of Gujarat International Finance Tec-City, or GIFT City, is initially targeting unlisted companies for the debut Bloomberg By Subhadip Sircar and Saikat Das India's NSE International Exchange is aiming to attract its first equity listing in a foreign currency this quarter, a milestone it says will demonstrate a new fundraising avenue for firms. The NSE IX exchange, situated in the financial hub of Gujarat International Finance Tec-City, or GIFT City, is initially targeting unlisted companies for the debut, chief executive officer V. Balasubramaniam said in an interview. These may be Indian firms with foreign holdings or even Silicon Valley or Delaware-based entities, he said, without providing any names. GIFT City is an initiative of Prime Minister Narendra Modi aimed at positioning India as a global financial hub to rival Dubai or Hong Kong. The zone offers exemptions from certain taxes and regulatory restrictions, making it a more attractive for international capital raising. A number of Chinese companies have gone ahead with international listings in Hong Kong, and some of them have now become global multinationals, Balasubramaniam said. 'It's the same opportunity that GIFT City is offering to Indian corporates.' There are five to six companies preparing to list, he said. The planned listing will help underscore the growing sophistication of India's capital markets and offer companies an alternative to domestic exchanges. A foreign-currency listing in GIFT City may also benefit Indian firms looking to expand globally by reducing currency conversion and hedging costs. The Securities and Exchange Board of India is working with the International Financial Services Centres Authority — GIFT City's unified regulator — to address outstanding regulatory issues, Balasubramaniam said. Once resolved, this will enable already listed Indian companies to raise capital on the international exchanges, he said. 'An Indian company that is already listed can decide to do a follow-on public offering in GIFT City as a separate dollar float, or it could do an offer for sale,' he said. Indian companies have previously accessed overseas markets primarily through instruments such as American depository receipts. Firms in the nation raised more than $20 billion via initial share sales last year. The absence of securities transaction and capital gains taxes in GIFT City is another major incentive for foreign investors, Balasubramaniam said.

Samsung flags big miss in second-quarter profit, citing U.S. AI chip curbs on China
Samsung flags big miss in second-quarter profit, citing U.S. AI chip curbs on China

The Hindu

time17 minutes ago

  • The Hindu

Samsung flags big miss in second-quarter profit, citing U.S. AI chip curbs on China

Samsung Electronics on Tuesday projected a 56% drop in second-quarter operating profit from a year earlier, far worse than analysts expected as its sales of artificial intelligence chips slowed in the United States and China. The world's largest memory chipmaker blamed the profit miss on U.S. restrictions on advanced AI chips for China, but analysts said the earnings slump was also due to delays in supplying chips to key U.S. customer Nvidia. Samsung said in a statement on Tuesday that its improved high-bandwidth memory (HBM) products were undergoing customer evaluation and proceeding with shipments, without elaborating further. "The DS Division recorded a quarter-on-quarter decline in profit due to inventory value adjustments and the impact of U.S. restrictions on advanced AI chips for China," Samsung said in a statement. Samsung estimated an operating profit of 4.6 trillion won for the April-June period, versus a 6.2 trillion won LSEG SmartEstimate. That would be its weakest in six quarters, down from 10.4 trillion won in the same period a year earlier and 6.7 trillion won in the preceding quarter. Revenue would likely fall 0.1% to 74 trillion won from a year earlier, the filing showed. The earnings miss will fuel investor doubts about Samsung's fundamentals, although its earnings are expected to recover gradually in the third quarter helped by rising sales of HBM chips to non-Nvidia customers and new phone launches, said Greg Roh, head of research at Hyundai Motor Securities. "The worse-than-expected profit will be negative for investor sentiment," he said. Samsung said earnings in its foundry business also fell, driven by sales restrictions and related inventory value adjustments stemming from U.S. export controls on advanced AI chips for China, as well as continued low utilisation rates. Last year, the U.S. ordered Taiwan Semiconductor Manufacturing Co to halt shipments of advanced chips to Chinese customers that are often used in AI applications, Reuters reported. Samsung said it expects the operating loss in its foundry business to narrow in the second half of the year as utilisation improves in line with a gradual recovery in demand. The company is expected to release detailed results including a breakdown of earnings for each of its businesses in late July.

NSE International Exchange set for first foreign-currency listing
NSE International Exchange set for first foreign-currency listing

Economic Times

time22 minutes ago

  • Economic Times

NSE International Exchange set for first foreign-currency listing

India's NSE International Exchange is aiming to attract its first equity listing in a foreign currency this quarter, a milestone it says will demonstrate a new fundraising avenue for firms. ADVERTISEMENT The NSE IX exchange, situated in the financial hub of Gujarat International Finance Tec-City, or GIFT City, is initially targeting unlisted companies for the debut, chief executive officer V. Balasubramaniam said in an interview. These may be Indian firms with foreign holdings or even Silicon Valley or Delaware-based entities, he said, without providing any names. GIFT City is an initiative of Prime Minister Narendra Modi aimed at positioning India as a global financial hub to rival Dubai or Hong Kong. The zone offers exemptions from certain taxes and regulatory restrictions, making it a more attractive for international capital raising. A number of Chinese companies have gone ahead with international listings in Hong Kong, and some of them have now become global multinationals, Balasubramaniam said. 'It's the same opportunity that GIFT City is offering to Indian corporates.' There are five to six companies preparing to list, he said. The planned listing will help underscore the growing sophistication of India's capital markets and offer companies an alternative to domestic exchanges. A foreign-currency listing in GIFT City may also benefit Indian firms looking to expand globally by reducing currency conversion and hedging costs. ADVERTISEMENT The Securities and Exchange Board of India is working with the International Financial Services Centres Authority — GIFT City's unified regulator — to address outstanding regulatory issues, Balasubramaniam said. Once resolved, this will enable already listed Indian companies to raise capital on the international exchanges, he said.'An Indian company that is already listed can decide to do a follow-on public offering in GIFT City as a separate dollar float, or it could do an offer for sale,' he said. ADVERTISEMENT Indian companies have previously accessed overseas markets primarily through instruments such as American depository receipts. Firms in the nation raised more than $20 billion via initial share sales last absence of securities transaction and capital gains taxes in GIFT City is another major incentive for foreign investors, Balasubramaniam said. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store