China is set to hand over its presidential seat to Xi Jinping for the consecutive third term when almost 3,000 members of its rubber-stamped (voted) on Friday. He will now be completing his ascension as supreme leader of the world’s No. 2 economy.

Xi Jinping likely to take charge

According to the media reports, Xi Jinping is likely to take charge as the president as he might win the National People’s Congress backing to serve five more years, demonstrating his unrivalled grip over the ruling Communist Party. Moreover, he will be China’s longest-serving head of state since the Communist victory in 1949.

He took all 2,970 ballots cast in 2018, the same year China abolished constitutional provisions that would’ve prevented him from getting a third term.

Moreover, the annual legislative meeting is expected to reappoint Jinping as chairman of the Central Military Commission, a post that makes him chief of the world’s biggest armed forces in terms of active personnel.

During the meeting, the NPC will install its own leader, likely former anti-graft chief Zhao Leji, who’s already the party’s No. 3 official.

A vice president will be voted into office. Previously, this role was occupied by Wang Qishan.

The balloting is largely procedural since Xi secured his status atop the party that dominates politics in China at a major congress in the fall. He used that event to pack top party positions with his allies while pushing out potential rivals for power.

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Xi’s plans for China

Taking notes from the manifestoes, China unveiled plans to strengthen oversight of its $60 trillion financial system, create a new agency to manage data, and restructure the Ministry of Science and Technology.

Xi used the annual NPC gathering this year to revamp the government to, he hopes, better compete in the increasingly testy rivalry with the US.

The objective was to “better allocate resources to overcome challenges in key and core technologies, and move faster toward greater self-reliance in science and technology,” said media reports.