Economic thought of China’s Xi Jinping to be immortalised in newly established research centre

Analysts say the move is part of President Xi’s strategy to further strengthen his rule

Announcement follows last month’s establishment of the Xi Jinping Research Centre for the Rule of Law, and the Xi Jinping Thought on Diplomacy Research Centre last year

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Chinese President Xi Jinping, seen here speaking during an event this month to commemorate the 100th anniversary of China’s Communist Party, now has an economic research centre established in his name. Photo: AP

Published: 8:03pm, 6 Jul 2021Updated: 11:14pm, 6 Jul 2021

Chinese President Xi Jinping’s vision for a new branch of economics is fast becoming a reality, with his party announcing the establishment of an economics research centre in his name.

The decision follows discussions over such a centre that began a year ago, and analysts say the move is part of Xi’s strategy to further strengthen his rule.

The Central Committee of the Chinese Communist Party – the party’s most authoritative body – on Monday gave the green light for a new “Xi Jinping Economic Thought Research Centre” in Beijing. This took place at a high-level government meeting during the plenary sessions of China’s economic planner, the National Development and Reform Commission.

The government said the centre would become a think tank for the production of economic policies based on Xi’s economic ideas, which were core to his 30-year political blueprint known as the “Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era”.

That doctrine is now enshrined in both state and party constitutions.

“The research centre must facilitate in-depth study and act as an important think tank for systematic research; [as a] platform for the publicity and implementation of the research; and would interpret and disseminate economic policies. It aims to be an open and influential centre in its field,” said the Economic Daily, reporting on the meeting.

The committee also reviewed and approved the centre’s construction plans at the meeting, though no further details on its construction or opening were released.