China appoints ministers, emphasis on continuity
China's rubber-stamp parliament on Sunday approved key appointments with unexpected moves geared towards tackling economic challenges on the home front and abroad.
China kept its central bank governor and finance minister in their posts, unexpectedly retaining Yi Gang, 65, as governor of the People's Bank of China (PBOC) and Liu Kun, 66, as finance minister, as both men have reached the official retirement age of 65.
Among other noticeable appointments, China's Premier Li Qiang nominated Ding Xuexiang, Zhang Guoqing, Liu Guozhong and He Lifeng as vice premiers. As expected, Wang Wentao stays on as commerce minister. Zheng Shanjie, governor and deputy party secretary of Zhejiang province, was approved to take over as head of the National Development and Reform Commission, the powerful state planner.
President Xi Jinping has been installing allies in key roles amid a sweeping government reshuffle as he begins a third five-year term. The government has set a 2023 economic growth target of around 5%, up from 3% last year, which was among the weakest performances in decades.
Reuters
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