FX.co ★ Chinese firms forced to study Xi Jinping’s doctrine

Chinese businesses have recently been forced to study the views and doctrines of the nation's leader, Xi Jinping. The study sessions on Xi Though have become mandatory not only for state-owned but also pirate-sector companies. Their employees, including executives and business heads, have to attend lectures on Xi Jinping’s ideology, with some of them spending around a third of their working time on studying Xi Thought and participating in activities and courses. For instance, the Bank of China and the Bank of Communications have ramped up the allocated time for studying Xi's doctrines. Meanwhile, heavyweights like the Industrial & Commercial Bank of China and Bright Food Group have sent their employees to lectures held in the memorial hall of the First National Congress of the Communist Party in Shanghai, which culminated in a repledging ceremony before the party flag. Yet, it remains unclear whether this ideological fervor will have any tangible impact on the nation's economy. Recently, China’s economic health has shown signs of strain, stirring concerns domestically and globally. The situation seems so serious that there has been speculation about a potential return of the rebel billionaire, Jack Ma, who had taken a retreat in Tokyo. Lately, China has been struggling with demographic challenges, notably its aging population and declining birthrate, that have been labeled as a grave threat to China's economic growth impacting its competitive stance against the US and other major economies.