Beijing recalls key Xi policy adviser

CHINA recalled Liu He, one of President Xi Jinping’s closest financial and economic advisers, to the Communist Party’s Central Committee, a signal the country’s leaders are not looking to make significant changes to economic policy as they begin a new fiveyear term.

Liu is a long-time member of Xi’s inner circle and has played a key role in shaping policy, mostly behind the scenes, as director of the Communist Party’s general office of the Central Leading Group for financial and economic affairs. Liu also is vice-chairperson of the National Development and Reform Commission, the government’s top economic planning body.

The 204 full members of the central committee, a body including government leaders, People’s Liberation Army generals, and heads of major stateowned enterprises, were reported yesterday by the official Xinhua News Agency.

“Liu He remaining on the central committee reflects Xi’s reliance on him for economic reforms,” said Iris Pang, an economist for Greater China at the ING Group in Hong Kong.

The new committee roster released yesterday at the close of the 19th party congress in Beijing did not give guidance on who may succeed People’s Bank of China governor Zhou Xiaochuan. He recently dropped hints of retirement.

Among potential successors, Jiang Chaoliang, the current party chief of Hubei province, and China Securities Regulatory Commission chairperson Liu Shiyu were named to the central committee.