China parliament formally elects Xi Jinping president

China's parliament formally elected heir-in-waiting Xi Jinping as the country's new president on Thursday, succeeding Hu Jintao, putting the final seal of approval on a generational transition of power.

The largely rubber stamp National People's Congress chose Xi in a tightly scripted ceremony at the Great Hall of the People in Beijing.

Xi was appointed party and military chief -- where real power lies -- in November.