The 16th Party Congress focused primarily on political principles and personnel issues. With respect to economic policy, the party congress understandably stressed continuity. Thus, fewer dramatic signs of future economic policy orientation have come in the aftermath of the congress than may be the case in other issue areas. In economic policy, the most important personnel choices tend to come at the level of ministers and vice ministers, one level below the top politicians chosen by the 16th Party Congress. These choices are being announced only gradually in the run-up to the 10th National People’s Congress (NPC) meeting in March 2003. Nonetheless, some important choices have already been made—particularly with respect to the financial system—and the implications of those choices are discussed in this essay. The most important signal is the promotion of the former chairman of the China Securities Regulatory Commission (CSRC), Zhou Xiaochuan, to head the Central Bank. The reassignment of economic managers is especially important because the key personnel involved represent the young, better-educated members of China’s “fourth generation,” those who began their educations after the Cultural Revolution. The senior members of the fourth generation, who have just ascended to the top of the formal political system, by contrast completed their educations before the Cultural Revolution. Some of the shortcomings of the political succession process may imply that the younger, post–Cultural Revolution leaders could begin to play an especially important role effective immediately.
-
About Hoover
About Hoover
Located on the campus of Stanford University and in Washington, DC, the Hoover Institution is the nation’s preeminent research center dedicated to generating policy ideas that promote economic prosperity, national security, and democratic governance.
Learn More -
Fellows
Fellows
Hoover scholars form the Institution’s core and create breakthrough ideas aligned with our mission and ideals. What sets Hoover apart from all other policy organizations is its status as a center of scholarly excellence, its locus as a forum of scholarly discussion of public policy, and its ability to bring the conclusions of this scholarship to a public audience.
View All Fellows -
Research
Research
Throughout our over one-hundred-year history, our work has directly led to policies that have produced greater freedom, democracy, and opportunity in the United States and the world.
Learn More -
Commentary
Commentary
Hoover scholars offer analysis of current policy challenges and provide solutions on how America can advance freedom, peace, and prosperity.
Learn More - Library & Archives
-
Support Hoover
Support Hoover
Learn more about joining the community of supporters and scholars working together to advance Hoover’s mission and values.
Learn More - Events
- Student Opportunities
-
-
What is MyHoover?
MyHoover delivers a personalized experience at Hoover.org. In a few easy steps, create an account and receive the most recent analysis from Hoover fellows tailored to your specific policy interests.
Watch this video for an overview of MyHoover.
Create AccountForgot Password
Login?
-
-
What is MyHoover?
MyHoover delivers a personalized experience at Hoover.org. In a few easy steps, create an account and receive the most recent analysis from Hoover fellows tailored to your specific policy interests.
Watch this video for an overview of MyHoover.
Create AccountHave questions? Contact us
Forgot Password
Login?
-
Support Hoover
Support Hoover
Learn more about joining the community of supporters and scholars working together to advance Hoover’s mission and values.
Learn More