Chinese President Hu Jintao stepped aside as leader of the ruling Communist Party Wednesday, clearing the way for Vice President Xi Jinping, The Associated Press reported. Wednesday's transfer of power was only the second orderly power transfer in 63 years of communist rule. Over the course of the next several months, Hu and senior party leaders will hand over power to leader-in-waiting Xi and other colleagues. The new leaders of the Politburo Standing Committee, China's most powerful body, will be announced Thursday. Hu will hold the ceremonial post of president until March, but it still remained unclear whether Hu would relinquish his position as head of the commission that oversees the military. According to analysts, Hu has resolved to step down from all his leadership posts in order to set a precedent that retiring leaders remove themselves entirely from politics. China's new leadership will face daunting challenges, which include slowing economic growth and tenuous relations with neighboring countries.
