video transcript

After months of speculation, China has unveiled a new leadership to head the country for the next five years. Vice President Xi Jinping will take over as party chief from outgoing President Hu Jintao. In Beijing, people gathered in the streets to watch as their new leader was announced. Many said they were hopeful the transition would lead China to a prosperous future. SOUNDBITE: 42-YEAR-OLD TOURIST FROM SICHUAN PROVINCE, WANG HAOYU SAYING (Mandarin): "We are very satisfied with the new leadership line-up we just saw, we can rest assured now, and more importantly we have high expectations for the new leadership." The change comes at a time of tension in Asia, as China and Japan row over territorial claims. In Japan, the new leadership was cautiously welcomed. But on the streets of Tokyo not all were optimistic. SOUNDBITE: COMPANY EMPLOYEE, RYOZO ABE SAYING (Japanese): "Even with the leadership transition, I don't think there'll be big changes, but I hope that the new leader puts an end to the country's aggressive behaviour." Xi Jinping is set to take over the post in March, at the annual meeting of parliament.