(Bloomberg) — China’s top leaders will meet in November to discuss party history and achievements, just as President Xi Jinping takes aim at the nation’s yawning wealth gap and crackdowns on the tech sector.
The Communist Party’s highest decision making body, the Politburo, fixed the month for the sixth plenum, a gathering of the larger Central Committee, state broadcaster China Central Television said. The typically once-a-year event is often the most important in China’s political calendar, bringing together about 400 state leaders, ministers, military chiefs, provincial bosses and top academics for the better part of a week.
At the closed-door session, usually held at Beijing’s Jingxi Hotel, the country’s highest executive body will review and adopt new policies ahead of a twice-a-decade party congress next fall, at which Xi is expected to seek a third-term in power. Previous plenums have ushered in some of the most consequential changes in modern Chinese history, including the launch of Deng Xiaoping’s economic reforms in 1978 and the removal of presidential term limits after the second plenum in 2018.
The sixth plenum typically focuses on ideology and party building, according to an analysis by the People’s Daily, which is a party newspaper. The key agenda item of this meeting will be reviewing the major achievements of the party and its historical experiences over the 100 years since the founding of the party, CCTV reported.
Read more: China Readies for Year of Politicking With Plenum: QuickTake Q&A
Investors have shown growing unease over crackdowns on China’s private sector in recent months by dumping shares. A renewed focus on “common prosperity,” or the need to spread China’s wealth more evenly, has led to speculation over a revamp of tax policies to redistribute income.
Beijing has already said it would investigate individuals who concealed their high incomes, while billionaires have made record donations amid tighter regulations on the technology sector. Officials, however, have been quick to point out that China does not intend to “rob the rich to give to the poor.”
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