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The Chinese Communist Party congress marked an imaginable reshuffle of the country’s economic policy team at a time when considerations about the world’s second-largest economy are growing.
Premier Li Keqiang, 67, economic czar Liu He, 70, central bank governor Yi Gang, 64, finance minister Liu Kun, 65, and banking regulator Guo Shuqing, 66, were removed from a list of full and exchange members of the Central Committee — the country’s most sensible officials and political elites — according to official statements issued Saturday after the party congress.
Read more: Chinese Communist Party ends with Xi Jinping in its ‘heart’
While this suggests they can also retire, being delisted does not automatically mean that civil servants will leave their government posts. These positions may not be clarified until March 2023, when the national legislature convenes.
The imaginable adjustments in the policy team come amid heightened uncertainty over China’s client expansion, as Covid lockdowns and the worst property market slowdown on record hit the economy. Gross domestic product expansion is expected to slow to just 3. 3% this year, which would be the slowest speed in more than 4 decades, barring the Covid crisis in 2020.
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