China opts for continuity
> Legislature picks new cabinet, central bank chief
BEIJING: China’s legislature elected yesterday a new cabinet and central bank governor, including names that suggest continuity in the economic and foreign affairs policies of the world’s most populous nation.
Liu He, one of President Xi Jinping’s closest economic advisers, was elected as one of five vice-premiers, in charge of a large swath of the economy.
The 66-year-old, who was Xi’s schoolmate in middle school, took centre stage last month when he travelled to Washington in an attempt to de-escalate trade tensions.
Liu, who was educated at Harvard University, will likely work on bolstering the markets’ role in the world’s secondlargest economy.
He is expected to take over some of the economic stewardship of Premier Li Keqiang, who was largely sidelined by Xi during their first term in office.
The rubber-stamp parliament also elected Han Zheng, Sun Chunlan and Hu Chunhua, all members of the powerful Politburo ruling body, as vice-premiers.
Sun, 67, is the only woman in the top echelons of the Communist Party and state.
Yi Gang, the former deputy governor of China’s central bank, was elected the new central banker, succeeding long-time governor Zhou Xiaochuan.
Yi’s appointment signals that China will continue its financial policies and its efforts to rein in the country’s swelling debt.
Zhou, who served as central banker for more than 15 years, said before his retirement that China should be “bolder” in opening up its financial sector.
In terms of foreign policy, foreign minister Wang Yi consolidated his position by both being re-elected as head of the foreign ministry, and by becoming one of five state councillors, which are positions above ministers.
During his first term in office, the 64year-old called for a diplomatic solution to the Korean crisis, but also saw China become more assertive in territorial disputes in South and East China Seas.
One of his main responsibilities will remain navigating increased tensions over trade with the US.
Army general Wei Fenghe, former finance minister Xiao Jie, and public security minister Zhao Kezhi were also elected as state councillors along with Wang Yong, who will serve his second term in the role. Former foreign affairs councillor Yang Jiechi will remain a Politburo member and lead the Communist Party’s foreign affairs office.
In total, the parliament elected 26 ministers and commission heads. – dpa