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Enoch Wong

Chinese President Xi Jinping called for renewed efforts to counter economic risks and “external shocks” in his Lunar New Year message on Monday, as Beijing braces for more uncertainty following Donald Trump’s return to the White House.
Xi made the remarks at a reception in Beijing to usher in the Year of the Snake, which begins on Wednesday.
“China remains a key engine of global economic growth,” Xi said, while noting there were looming challenges.
He said perseverance was needed, and that the country needs to “strengthen our conviction and confidence, confront problems and obstacles directly, and tackle risks and challenges without hesitation”.
Xi also called for resilience to achieve “high-quality development” and to mitigate risks.
“We will press ahead with deepening reforms, expand high-level opening-up, guard against and defuse risks in key areas and external shocks, and promote sustained economic recovery and improvement while maintaining social harmony and stability,” he said.

Xi also reaffirmed his commitment to a long-running campaign against corruption that last year netted a record number of high-ranking officials.
Fifty-six senior cadres at the vice-ministerial level or above were placed under investigation in 2024. Anti-corruption agencies also expanded their efforts to tackle graft in the military, defence industry, health sector and sports.
The Chinese leader on Monday also said proposals would be drafted this year for the country’s next five-year plan from 2026 to 2030. That plan will set out how the ruling Communist Party aims to achieve the reform tasks it has committed to over the next decade to modernise the country.
Those commitments were made during the third plenum in July and are to be completed by the time the People’s Republic of China marks its 80th anniversary in 2029.
But the country continues to grapple with a shaky economic recovery from the pandemic, and challenges to growth in the long run. While economic growth reached the target of 5 per cent last year, youth unemployment remains high, investor sentiment is fragile, local governments are struggling with debt, and a demographic crisis is looming as the birth rate declines and the population rapidly ages.
Beijing is meanwhile pushing for hi-tech self-reliance and is ratcheting up efforts to move up the value chain as it tries to gain a stronger footing in its rivalry with Washington.
Trump has threatened punitive tariffs on China and also announced plans to beef up investment in artificial intelligence to counter Beijing’s rising strength. In the new Trump era, Beijing is also expected to face uncertainties over the South China Sea and other security issues as it deals with the new US president’s hawkish China team.
In his Lunar New Year message, Xi vowed to stay focused on the needs of Chinese. “We will respond promptly and effectively to the needs and concerns of the people,” he said.


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China’s Communist Party

Chinese President Xi Jinping delivers a Lunar New Year address on Monday. Photo: Xinhua

Xi Jinping made the speech at a Lunar New Year reception in Beijing. Photo: Xinhua

President Xi Jinping raises his glass next to former premier Wen Jiabao during a National Day reception in Beijing last September 30. Wen is among retired seniors who received greetings from the top leadership in recent days. Photo: Reuters

Chinese military leaders urge war readiness in message to troops ahead of Lunar New Year

Chinese President Xi Jinping (front, centre) poses with officers and soldiers of the PLA’s Northern Theatre Command on Friday. Photo: Xinhua

It is a Lunar New Year tradition among Chinese to give out “red packets”, or red paper envelopes containing money. Digital red packets became a popular way for people to send blessings after WeChat launched the function in 2014. Photo: Shutterstock 

News

China

Politics

China remains ‘key engine’ of global growth and will push ahead with reforms and guard against ‘external shocks’, leader says


China remains ‘key engine’ of global growth and will push ahead with reforms and guard against ‘external shocks’, leader says.


Xi Jinping

Lunar New Year