China's 75th Anniversary of Communist Rule Features Muted Celebrations and Economic Challenges

China's 75th Anniversary of Communist Rule

China quietly marked 75 years of Communist Party rule on Tuesday with a flag-raising ceremony in Tiananmen Square. Unlike previous milestones, no grand celebrations were planned. The anniversary was overshadowed by ongoing economic troubles and mounting security concerns within China.

Key Highlights from the Ceremony

• Only official event was the flag-raising ceremony featuring an honor guard.
• State media focused on claims of economic progress and social stability.
• Little mention of serious challenges like declining birth rates and supply chain disruptions.

In Hong Kong and Macao, both former colonies returned to Chinese sovereignty in the late 1990s, commemorations were also held. This time, China avoided the military parades and grand displays that characterized past anniversaries, like the 60th and 70th.

Economic Context

This more subdued approach reflects the reality of the world's second-largest economy, which has struggled to regain momentum post-COVID-19. A prolonged property slump has affected everything from construction to the sales of home appliances.

In response, Beijing recently announced several measures to spur economic activity, including lowering interest rates and reducing mortgage down payment requirements. President Xi Jinping, who has limited his overseas travel since the pandemic, continues to focus on internal consolidation of power, intensifying purges of officials deemed insufficiently loyal or suspected of corruption.

On the eve of the anniversary, Xi delivered a sober message at a banquet, warning of difficulties ahead.