Chinas New Epoch: From Seeking Wealth to Gaining Strength

DOI: 10.20542/0131-2227-2018-62-3-59-70

O. Borokh (,
Institute of Far Eastern Studies, Russian Academy of Sciences (IDV RAN), 32, Nahimovskii Prosp., Moscow, 117997, Russian Federation;
A. Lomanov (,
Institute of Far Eastern Studies, Russian Academy of Sciences (IDV RAN), 32, Nahimovskii Prosp., Moscow, 117997, Russian Federation 

Abstract. The article is focused on the new concepts that were introduced at the 19th Congress of the Communist Party of China (CPC). The key thesis of the “new era” of China’s socialism was supplemented by a new definition of the main contradiction in the Chinese society between the “people’s need for a good life” and the “unbalanced insufficient” development. Former reference to “backwardness of social production forces” was abandoned due to recognition of real progress of the national economy; nevertheless, the basic characteristic of China as the largest developing country at the initial stage of socialism remained unchanged. According to the new strategy, China’s modernization should be completed by 2035 that is 15 years ahead of the “three step program” outlined by Deng Xiaoping. The CPC promised to build a powerful modern nation by the middle of this century. New goals of development were not linked to the GDP growth figures in the context of China’s transition from the stage of high-speed growth to the stage of high-quality economic growth. It provides the government with ample room for maneuver in the process of reforms implementation. The Congress underlined the importance of prevention of financial risks and proposed to build a healthy “two-pillar control system of monetary policy and macroprudential policy”. Economic policy retained its pro-market orientation; reference to “promotion and protection of spirit of entrepreneurship” was an important positive signal for the non-state sector of Chinese economy. The Congress assigned normative status to “Xi Jinping Thought of New Era of Socialism with Chinese Characteristics”, so a large set of concepts and slogans introduced by Xi Jinping over the past five years was included into the new version of the CPC Charter. Against the backdrop of increased centralization and personification of the CPC leadership system, the problem of power succession remained unsolved thus adding an element of uncertainty into Chinese politics. The CPC Congress expressed confidence in sustainability of China’s development path and encouraged other countries to study the Chinese modernization experience. The article concludes that the 19th Congress provided favorable conditions for stable development of the Chinese economy, and the updated long-term strategy will make China’s behavior on the global scene more predictable. 

Keywords: Communist Party of China, Xi Jinping, economic reforms, political system, ideology



1. Xi Jinping at the Seminar for Leading Cadres of Provincial and Ministerial Level on “Studying the Spirit of Important Speeches of General Secretary Xi Jinping and Welcoming the Opening of the 19th CPC Congress” Made an Important Speech and Stressed: Hold High the Great Banner of Socialism With Chinese Characteristics, Fight to Win in Struggle for Chinese Dream of Comprehensive Construction of Well-Off Society. People’s Daily, 28 July 2017 (In Chin.)

2. Zhou Wen, To Understand Completely That Socialism With Chinese Characteristics has Entered a New Stage of Development. Theory and Reform, 2017, no. 5, pp. 1-4 (In Chin.)

3. Xi Jinping. Secure a Decisive Victory in Building a Moderately Prosperous Society in all Respects and Strive for the Great Success of Socialism with Chinese Characteristics for a New Era – Report Delivered at the 19th National Congress of the Communist Party of China (18 November 2017). Beijing, Renmin Chubanshe. 71 p. (In Chin.)

4. Qu Qingshan. To Learn and Understand the Report at the 19th CPC Congress it is Necessary to Grasp Few Major Issues, 13 November 2017 (In Chin.) Available at: (accessed 19.11.2017)

5. Resolution on Some Questions in the History of the CPC Since the Founding of the PRC. Pekin, Izdatel’stvo literatury na inostrannykh yazykakh, 1981. 134 p. (In Russ.)

6. Li Junru. To Understand Deeply the Meaning of Transformation of Key Social Contradiction in our Country. People’s Daily, 11 November 2017. (In Chin.)

7. The Interpretation of the Main Points of Economic Policy at the 19th Party Congress (In Chin.) Available at: (accessed 19.11.2017).

8. One Hundred Questions to Guide Studies of Report at the 19th CPC Congress. Beijing, Party Building Press. Learning Press, 2017. 228 p. (In Chin.)

9. People’s Daily Commentator: Effectively Prevent Financial Risks – Second on Doing Well Current Financial Work. People’s Daily, 17 July 2017 (In Chin.)

10. Wucker M. The Gray Rhino: How to Recognize and Act on the Obvious Dangers We Ignore. Wang Liyun, tr. Beijing, CITIC Publishers, 2017. 395 p. (In Chin.)

11. What do “Gray Rhino, Minsky Moment” Mean? How do They Influence Common People? (In Chin.) Available at: (accessed 15.11.2017).

12. Zhou Xiaochuan Speaks About “Minsky Moment”: What Should We Pay Attention To? (In Chin.) Available at: (accessed 19.11.2017).

13. Eight Hotpoint Economic Issues in the Report to the 19th Party Congress (In Chin.) Available at: (accessed 15.11.2017).

14. Interview with Famous Economist Zhang Zhuoyuan: the Anti-Corruption Curbed the Trend Towards “Bad Market Economy” (In Chin.) Available at: (accessed 15.11.2017).

15. Temper Hopes for Big State Enterprise Reform in Xi’s Second Term. South China Morning Post, 25.10.2017. Available at: (accessed 19.11.2017).

16. Constitution of the Communist Party of China. Beijing, Renmin Chubanshe, October, 2017. 62 p. (In Chin.)

17. Xi Protege on High-Powered Propaganda Team to Spread President’s Message. South China Morning Post, 02.11.2017. Available at: (accessed 19.11.2017).

18. CPC Central Committee Political Bureau Held a Meeting to Investigate and Arrange Studies, Propaganda and Implementation of the Spirit of the 19th CPC Congress. People’s Daily, 28 October 2017 (In Chin.)

19. Hu Angang, Yang Zhusong. Innovative China’s Collective Leadership. Beijing, CITIC Publishers, 2017. 183 p. (In Chin.)

20. Why China is Reviving Mao’s Grandiose Title for Xi Jinping. South China Morning Post, 28.10.2017. Available at: (accessed 19.11.2017).

21. Renmin University of China Established the Research Center for Xi Jinping’s Ideas of the New Era of Socialism with Chinese Characteristics (In Chin.) Available at: (accessed 19.11.2017).

22. A New Era Dawns for Xi Jinping’s China, But what Will it Mean for the Rest of the World? South China Morning Post, 25.10.2017. Available at: (accessed 18.11.2017).

23. Shambaugh D. Contemplating China’s Future. The Washington Quarterly, vol. 39, no. 3, 2016, pp. 121-130. DOI:10.1080/0163660X.2016.1232639

24. Heilmann S. Big Data Reshapes China’s Approach to Governance. Available at: (accessed 19.11.2017).

25. Mikheev V., Lukonin S., Ignat’ev S. Kitai: faktor s”ezda i faktor Trampa [China: Congress Factor and Trump Factor]. World Economy and International Relations, 2017, vol. 61, no. 6, pp. 23-32. DOI:10.20542/0131-2227-2017-61-6-23-32 

Registered in System SCIENCE INDEX

For citation:
Borokh O., Lomanov A. Chinas New Epoch: From Seeking Wealth to Gaining Strength. World Eonomy and International Relations, 2018, vol. 62, no. 3, pp. 59-70.

Comments (0)

No comments

Add comment






Dear authors! Please note that in the VAK List of peer-reviewed scientific journals, in which the main scientific results of dissertations for the degree of candidate and doctor of sciences should be published for the “MEMO Journal” the following specialties are recorded:
economic sciences:
5.2.5. World Economy.
5.2.1. Economic Theory
5.2.3. Regional and Branch Economics
political sciences:
5.5.4. International Relations
5.5.1. History and Theory of Politics
5.5.2. Political Institutions, Processes, Technologies


Current Issue
2024, vol. 68, No. 7
Topical Themes of the Issue:
  • The Supporting Structure of Global Security
  • Institutional Features of the Fourth Energy Transition
  • The Evolution of Modern German Christian Democracy
  • The Monarchies of the Persian Gulf and Central Asia
Submit an Article
The Editorial Board invites authors to write analytical articles on the following topics:
  • changes in the processes of globalization in modern conditions
  • formation of the new world order
  • shifts in civilization at the stage of transition to a digital society

The editors are also interested in publishing synthesis articles / scientific reviews revealing the main trends in the development of certain regions of the world - Latin America, Africa, South Asia, etc.