As expected, Mr Xi Jinping69, was unanimously re-elected today in China’s presidency for—unprecedented— Tuesday synapse servicelasting five years, with a vote in the Chinese parliament.

Mr Xi had already secured in October a five-year extension to his leadership of China’s Communist Party and military commission, the two most important posts in the Asian giant.

For many observers, the development confirms that Mr. Xi is the most powerful Chinese leader since the days of Mao Zedong.

Parliament also approved the biggest reorganization of the government apparatus in decades, which foresees that 5% of jobs will be cut and that there will be an emphasis on technology and Chinese “leadership” in this field.

This is the most important reorganization of the state apparatus since 1998.

Furthermore, it was decided to create a new financial supervision committee, with powers that until now belonged to the central bank, to better coordinate the control of financial and insurance institutions, innovative forms of financing and consumer protection.

From China’s perspective, the US and the West are trying to block the rise of the world’s second-largest economy by implementing a policy of deterrence, encirclement and “repression”, Mr Xi said earlier this week.