Celebrating the 10th anniversary of 'Xi Jinping Mega City'...Even the economy is on track / YTN

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Published on Feb 27, 2024

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[Anchor] China is celebrating the 10th anniversary of the megacity construction project promoted by President Xi Jinping. It seems that even the economic sector, which was previously under the authority of the Prime Minister, is being solidified under a one-man, full-time, shogunate system. This is Beijing correspondent Kang Jeong-gyu. [Reporter] Xiong'an New City, known as Xi Jinping's special zone. It is the core of the so-called "Jing-Jin-Ji (京津冀)" megacity construction plan connecting Beijing, Tianjin, and Hebei Province. It is also a concept of a "Xi Jinping economic zone" comparable to Deng Xiaoping's Pearl River Delta and Jiang Zemin's Yangtze River Delta. State-run media touted the development achievements of "Jing-Jin-Ji," which is now in its 10th year. [Li Guoping / Director of the Beijing University Capital Development Research Institute: The Beijing-Jinji Coordinated Development Strategy, personally planned, arranged, and promoted by President Xi Jinping, is a great implementation of an excellent development model.] In the second year of Xi Jinping’s third term, the one-man, full-time, pro-Lan system has been consolidated. Ahead of the annual political event, the Lianghui, the work reports from the party, legislative, judicial, and executive branches have been received. President Xi is also personally taking care of the so-called “centralized, unified leadership,” the economic sector that was previously the authority of the premier. In response to the sharp decline in stock prices, the head of the securities regulatory agency was replaced, and the benchmark interest rate for housing loans was lowered by the largest amount ever (0.25 percentage points) to stimulate the real estate market. However, due to capital outflow and exchange rate pressure, the general interest rate was left untouched, and stock market measures focused on regulating short selling. There is an assessment that “Sinomics,” which emphasizes domestic demand and distribution, does not show the role of the second-in-command in government to check and balance. [CCTV, China’s state-run news agency / Premier Li Qiang’s remarks: We must thoroughly study and implement President Xi Jinping’s important instructions and spirit regarding the construction of a unified national market…] A bill to revise the National Secrets Law was tabled at the National People’s Congress, one of the two sessions and a regular legislative session. Along with the anti-espionage law that went into effect in July of last year, there are predictions that this will discourage the activities of foreign companies that have advanced into China. This is Kang Jeong-gyu from YTN in Beijing. Graphics; Kim Jin-ho YTN Kang Jeong-gyu ([email protected]) ※ 'Your tip becomes news' [KakaoTalk] Search YTN and add channel [Phone] 02-398-8585 [E-mail] [email protected] ▶ Original article: https://www.ytn.co.kr/_ln/0104_202402... ▶ Tip: https://mj.ytn.co.kr/mj/mj_write.php ▣ Subscribe to YTN YouTube channel: http://goo.gl/Ytb5SZ ⓒ YTN Unauthorized reproduction, redistribution, and use of AI data are prohibited.

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