NPC is Xi’s big chance for a reform reboot

Xi Jinping’s big coronation as China’s longest-serving leader since Mao Zedong is suddenly going a bit closer to plan.

Three months ago, a cratering economy, massive protests over “zero Covid” lockdowns and fears Xi’s tech crackdown isn’t over had capital fleeing China.

At the time, many foreign investors figured next week’s National People’s Congress would be more of a crisis-management session than a moment to pop champagne corks.

But the bubbly is back. As Xi formally secures a norm-busting third term, China’s reopening is reviving economic growth and dispelling any lingering whiff of panic in the air. Just as important, Xi is about to turn Asia’s biggest economy over to a new reform team.