(Xi's U.S. Visit) Xinhua Insight: Best-seller sheds light on CPC "governance wisdom"

It was a highlight at international book fairs, popular with foreign leaders, and was even on the desk of Facebook CEO Mark Zuckerberg.

"Xi Jinping: The Governance of China," has sold more than 5 million copies globally in just a year, a record for any publication by a Chinese leader over the past three decades.

Readers worldwide are curious about the world's fastest growing economy, the world's largest political party, and the leader who oversees both.

"The book shows you President Xi's political philosophy [...] what he really thinks and what he is going to do. Read it and you will know where China is heading," said Robert Kuhn, author of "The Man Who Changed China: The Life and Legacy of Jiang Zemin."

Much of the president's insight has been translated into effective policies, some of which we detail below.

REFORMING CHINA

"Having been pushed ahead for more than 30 years, China's reform has entered a deep-water zone. It can be said that the easy part of the job has been done [...] What is left are the tough bones that are hard to chew. This requires us to act boldly and progress steadily."

-- Pg. 113. "Xi Jinping: The Governance of China."

After more than three decades of high economic growth since 1978, when China began its reform and opening-up drive, China is bracing itself against strong economic headwinds.

To deal with the "tough bones" that Xi mentioned, the government has mapped out measures to support China as it navigates the seas of the "new normal", an economic model featuring slower but more sustainable growth.

In November 2013, the Communist Party of China (CPC) began one of the most in-depth phases of reform in history, issuing over 330 measures that sought to identify and address problems in 15 areas, ranging from the economy to the environment.

A series of measures for stated-owned enterprises, for example, sought to address declining profits, efficiency and poor management.

The government is also moving to reduce government interference into the judiciary, press ahead with efforts to reduce income disparity between rural and urban residents, and slash administrative approvals to let the market have more say.

The result? The economy is shifting toward becoming more balanced and efficient, largely in line with policymakers' goals.

Average disposable income growth in rural regions continued to out-pace that seen in urban areas, while the service sector already accounts for half of China's GDP, and consumption now contributes 60 percent to growth.

The measures will "rein in wasteful investment, increase innovation and productivity growth, and enhance consumption," David Dollar, a leading China expert with the Brookings Institution, said in an article on the institution's website.

"Success in these areas will enable China to continue to grow well for another decade or more," he wrote.

SELF-PURIFYING CPC

"To fight resolutely against corruption, and prevent the Party from succumbing to decay and degeneration through overlong access to power are two major political tasks that we must work hard on."

-- Pg. 438. "Xi Jinping: The Governance of China."

Having ruled for 66 years, the CPC now boasts a membership of 88 million, more than the population of Germany. Xi's declaration of the "two major political tasks" makes his intentions for the 94-year-old party very clear: It must, and will, refresh.

Since taking office in November 2012, Xi has been up-front about the CPC's "many pressing problems", citing corruption, a separation from the people and bureaucracy.

To remove these "illnesses" and "malignant tumors," as the president puts it, the party has improved its code of conduct, tightened regulations, taken a hardline on graft, and enhanced supervision.

The anti-corruption drive has snared thousands of officials at all levels. Former security chief Zhou Yongkang was imprisoned for life on corruption charges in June, making him the highest-ranking ex-official to be sentenced in decades.

"The leadership's approach has not only boosted public confidence, but given the international community a refreshing impression," said Xin Ming, a politics expert at the Party School of the CPC Central Committee.

"It shows the CPC is capable and determined to improve," he said.

Economists also believe the anti-graft fight could benefit foreign companies operating in China as it will drive forward standards.

The crackdown on corruption could trigger a 0.1-0.5 percent increase in the world's second largest economy, equivalent to 70 billion U.S. dollars, Bloomberg reported, summarizing forecasts by 17 economists.

INTERCONNECTING DREAM

"The Chinese Dream [...] is a dream of peace, development, cooperation and mutual benefit. It has many things in common with all the beautiful dreams, including the American Dream, of people all over the world."

-- Pg. 306. "Xi Jinping: The Governance of China."

Two weeks after he took office, Xi defined the phrase the "Chinese Dream" as the great national renewal, and the influence this philosophy would have on governance.

Underpinned by a commitment to peaceful development, China has rolled out new concepts and programs such as "the community of shared destiny" to promote a cooperative approach to global development, which links in with other concepts of "a new model of major-country relations," as well as the Belt and Road initiative.

The Silk Road Economic Belt and the 21st Century Maritime Silk Road, proposed by China in 2013, aim to boost trade and investment between Asia and Europe. The network incorporates more than 60 countries and regions, with a combined population of 4.4 billion.

In the book, Xi "accompanies his vision of a revolutionary transformation of Chinese society with a conception of cooperation with the rest of the world," former U.S. secretary of state Henry Kissinger wrote when commenting on the book.

"The rise of China will also have a profound impact on the future of world order," he said.

According to the International Monetary Fund, China will contribute 28.5percent to global economic growth in 2015, up from 27.8 percent last year, signifying it is still an important global growth engine, despite slowing GDP growth.

It's not unexpected that Xi's book on governance has been well received.

One review on amazon.com, posted by "Paul in Park City 'Paul'", said, "If you do business in China, or follow economics or public policy, you need the book because, frankly, it's all there on the man now leading the world's fastest growing (and soon the largest) economy." Endi