China: After three years of zero-COVID restrictions, China’s rubber-stamp legislature has picked Mr. Li Qiang, a longtime aide to leader Xi Jinping, as premier. Mr. Li Qiang will be in charge of restoring the world’s second-largest economy.
At a mostly ceremonial vote held at at Beijing’s Great Hall of the People, the National People’s Congress supported Mr. Li. With three votes against him and eight abstentions, Mr. Li received 2,936 votes. One of Xi’s most dependable proteges, Mr. Li, 63, is the nation’s most powerful leader in decades. Premier Mr. Li Keqiang, who has served as Xi’s deputy since 2013, will be replaced by him.
The premiership has historically been a powerful position in command of the economy, but during the past ten years, Mr. Xi, who has assumed almost complete control of all decision-making, has weakened its influence.
But, the Chinese economy, which just set a GDP growth target for this year of roughly 5 percent the lowest in decades is expected to be the focus of a large portion of the new premier’s efforts. That won’t be an easy undertaking given that China is experiencing a historic downturn in its vital property market, consumer spending is weak, and youth unemployment is still high. Moreover, debt burdens local governments.
That won’t be an easy undertaking given that China is experiencing a historic downturn in its vital property market, consumer spending is weak, and youth unemployment is still high. Moreover, debt burdens on local governments. During a leadership transition, Mr. Xi chose Li Qiang, a former Shanghai Communist Party head who oversaw the catastrophic two-month lockdown of the city, as the person to take on these difficulties.