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The rhetoric from both sides and Beijing’s recent maneuvers have stoked fears that an attempted Chinese military takeover of Taiwan could be next on the horizon. Besides that joint command experience, He possesses another key attribute sought in top PLA leadership – field experience in hostile situations. Carl Schuster, a former director of operations at the US Pacific Command’s Joint Intelligence Center, said He was one of Xi’s “action men” on the military commission. Zhang served on the previous military commission and has been retained and promoted despite being past the unofficial retirement age of 68. There’s just too much work to be done with Xi’s military modernization to achieve good odds of success, they said.
Persons: Xi Jinping’s, Xi, , Tsai Ing, , James Char, ” Char, Weidong, Nancy Pelosi, Rod Lee, Lee, Xi Jinping, ” Lee, Carl Schuster, Zhang Youxia, Zhang, Xi’s, Meia Nouwens, Joel Wuthnow, he’s, ” Wuthnow, Zhang’s, Li Shangfu, Wuthnow, There’s, , Char Organizations: CNN, Central Military Commission, Communist Party’s National, People’s Liberation Army, PLA, Chinese Communist Party, China Program, Institute of Defense, Strategic Studies, Theater Command, Eastern Theater Command, US Air Force Air, China Aerospace Studies Institute, People’s Armed Police, Pacific Command’s Joint Intelligence Center, International Institute for Strategic Studies, Center, Chinese Military Affairs, US National Defense University, Party, US Air University Locations: China, Taiwan, Beijing, Taiwan Strait, Asia, Singapore, India
U.S.-listed Chinese stocks lost tens of billions of market value on Monday as investors weighed the outcome of the Chinese Communist Party’s national congress meeting over the weekend. The Nasdaq Golden Dragon China Index, which tracks dozens of Chinese companies listed on American exchanges, fell more than 14% to its lowest closing level since April 2013, erasing $73.4 billion in market cap since Friday’s close through Monday, according to Dow Jones Market Data.
Hong Kong Stock Market Dives After China Party Meeting
  + stars: | 2022-10-24 | by ( Rebecca Feng | ) www.wsj.com   time to read: 1 min
Hong Kong shares faced a wave of selling after the conclusion of the Chinese Communist Party’s national congress meeting over the weekend. The Hang Seng Index fell 6.4% on Monday, the biggest one-day decline since the global financial crisis, according to Wind data. It closed at its lowest level since April 29, 2009. Shares in mainland China were also down, although not by as much. The benchmark CSI 300 was 2.9% lower and the Shanghai Composite Index was down around 2%.
Chinese stock exchange officials told brokers and fund managers in the country not to sell large blocks of shares around the Communist Party’s National Congress this week, according to people familiar with the matter. The move was designed to reduce market volatility around the all-important political meeting, which began on Oct. 16. The Chinese Communist Party is nearing the end of its week-long gathering of senior officials, during which Chinese President Xi Jinping is widely expected to secure a convention-defying third term as party chief.
“Xi’s leadership is not causal for China’s economic rise,” said Sonja Opper, a professor at Bocconi University in Italy who studies China’s economy. Bloomberg/Getty ImagesThe International Monetary Fund recently cut its forecast for China’s growth to 3.2% this year, representing a sharp slowdown from 8.1% in 2021. Under Xi, China has not only become more insular, but has also seen the fraying of US-China relations. He is expected to secure an unprecedented third term in power at the Communist Party Congress that begins on Sunday. “Moreover, growth is not the only source of legitimacy and support for the Communist Party, and Xi has increasingly burnished the Communist Party’s nationalist credentials to appeal to patriotism as well as pocketbooks,” he added.
What is the Party Congress? The Congress itself, typically held in October or November, convenes nearly 2,300 carefully selected Communist Party members, called delegates, from around the country. Delegates attend the opening of the Chinese Communist Party's 19th National Congress in October 2017. While votes are held at the Party Congress, this is widely viewed as a formality – not a true election process. Video Ad Feedback 02:46 - Source: CNN Watch CNN's report of last party congress of the Chinese Communist Party in 2017Why is this Congress different from those in the past?
Almost all shares in the Hang Seng Index were trading lower by midday Monday. Hong Kong shares faced a wave of selling after the conclusion of the Chinese Communist Party’s national congress meeting over the weekend. The Hang Seng Index was down 5% by midday, bringing it below its lowest closing level since April 29, 2009. Shares in mainland China were also down, but not by as much. The benchmark CSI 300 was 1.7% lower and the Shanghai Composite Index was down around 0.9%.
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