 "Communist Party of China")
Amid the anti-monopoly crackdown against top Chinese corporates like Alibaba and Tencent, President Xi Jinping-led ruling Communist Party has outlined plans to focus mainly on rule of law-based governance in the next five years which could further boost his power base.
A rare joint document issued by CPC and the State Council, which is China's Cabinet, on Wednesday mapped out a new blueprint on promoting the building of a rule of law government from 2021 to 2025, on the basis of the successful implementation of a previous 5-year plan.
The document stresses strengthening the CPC's leadership for the building of a government based on the rule of law.
The new focus on governance comes in the midst of the on-going crackdown on China's major corporates, including Alibaba, Tencent and the car hailing app, Didi, which resulted in a big drop in the shares of many Chinese firms listed in the US and Hong Kong markets.
The anti-monopoly crackdown which caught the corporates by surprise comes amid the continued consolidation of the power base of 68-year-old Xi, who has emerged as the most powerful leader after Mao Zedong heading the CPC, the military and the Presidency. He is widely expected to continue to remain in power beyond his second five-year tenure next year.
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All his predecessors retired after two terms and Xi has the prospect of continuing in power for life, thanks to a key constitutional amendment removing the two-term limit for the President.
Identifying promoting the rule of law for the government as the main task in advancing law-based governance in all areas, the document highlighted the guiding philosophies, principles, and overall goals of this cause for the next five years, state-run Xinhua news agency reported.
The anti-monopoly crackdown has humbled highly popular corporate personalities like Jack Ma, the founder of Alibaba and his fellow billionaires who flourished under CPC's rule.
The new document urges improving government functions in various fields, including economic adjustment, market supervision, social management, public service, and environmental protection.
On improving the law-based business environment, the plan calls for concrete efforts to prevent the administrative power from eliminating or stifling competition. It pledges improvements in the system of pre-establishment national treatment plus a negative list for foreign investment. It also promises strengthened enforcement of anti-monopoly and anti-unfair competition laws, the Xinhua report said.
It stresses pushing forward legislative activities and studies in key areas such as national security, bio-security, infectious diseases prevention and control, and digital economy.
It also urges governments at all levels to promote law-based administration with the help of digital technologies, including the internet, big data, and artificial intelligence.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
