Xi Jinping has assumed the Presidency of China and become the new head of the country’s Communist Party, according to Xinhua state news agency.
That’s as the 18th Congress of the Communist Party of China comes to an end with the Politburo of the Communist Party of China selecting a new seven-man Standing Committee, China’s paramount leadership for the next 10 years.
In his acceptance speech Xi admitted that the Communist Party has its problems with corruption and pledged to address them.
He also praised the people of China, saying that their “desire for a better life is what we shall fight for” and that ”If we unite as one people, there is no difficulty we cannot overcome.”
Xi replaces Hu Jintao, under whose administration China saw a decade of extraordinary growth despite the global financial crisis.