What team will Xi Jinping choose to steer world’s second-largest economy into the future?
Harvard-trained economist Liu He tipped for promotion to vice-premier role as leader prepares for challenge of another five years in charge of world’s most populous nation
President Xi Jinping’s key economic adviser Liu He is likely to be promoted to vice-premier in March, as Xi assembles a new team to steer the world’s second largest economy over the next five years, according to sources with knowledge of the arrangement.
After spending his first term amassing unprecedented power through a much trumpeted anti-corruption crusade, Xi is now under increasing pressure to tackle the daunting challenges facing the US$12 trillion economy that range from ballooning debts and rampant excess capacity to an inefficient state-owned sector.
In the weeks following the ruling Communist Party’s five-yearly leadership shake-up in late October, all eyes were on who would take up the key economic policy roles when the new cabinet is unveiled at the annual legislative meeting next March.
In the State Council, Premier Li Keqiang is set to stay on after retaining a seat on the Politburo’s supreme Standing Committee, but all of his four deputies are due to retire or move on.
Sources said Liu, who now sits on the 25-strong Politburo, is expected to fill Ma Kai’s role in charge of finance.