Beijing: Chinese President Xi Jinping’s close aide Li Qiang was on Saturday confirmed as country’s new Premier. He will now succeed Li Keqiang who held the post for the last 10 years overseeing the second-largest economy.
The annual session of the National People’s Congress (NPC), a ceremonial body that routinely passes the proposals of the ruling Communist Party of China (CPC), approved Li Qiang’s candidature after his name was proposed by Xi himself.
Li Qiang, 63, is a close ally of Xi, serving as his chief of staff between 2004 and 2007, when Xi was provincial party secretary of eastern China’s Zhejiang province.
He will take office amid rising tensions with the West, including U.S. moves to block China’s access to key technologies and as many global companies diversify supply chains to hedge their China exposure, given political risks and the disruptions of the COVID era.
Li’s top task this year will be beating that target without triggering serious inflation or piling on debt, said Christopher Beddor, deputy China research director at Gavekal Dragonomics.
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