China shakes up financial system

Chinese leader Xi Jinping is preparing to use the annual parliamentary session, the National People’s Congress, to appoint his most trusted acolytes to tighten political control over financial affairs


CHINA’S GDP GROWTH
(Year over year)
 
Congress expected to outline target for GDP growth for 2023 of higher than 5%
 
10
8   		      			8.4%
6 	6.9% 	6.7% 	6.0%    			5.2% 
4
2		 		2.2%      	3.0%
0 	2017 	2018 	2019 	2020 	2021 	2022 	2023


Xi Jinping, 69: Most powerful leader since Mao Zedong, to be reconfirmed as party secretary and military chief for third five-year term

Li Qiang, 63: Former Shanghai party chief whom Xi worked with as governor of Zhejiang province in 2004-07, expected to replace Li Keqiang as premier
  
He Lifeng, 68: Xi’s longtime associate, who runs economic planning agency, likely to succeed vice-premier Liu He
   
Yi Huiman, 58: Current head of securities regulator, most likely to replace Guo Shuqing as banking regulator

Lu Zhiyuan, 58: Party chief of Qingdao and former senior official in Xi’s native Shaanxi province, expected to become finance minister

Zhu Hexin, 55: Head of state-run conglomerate Citic Group expected to become governor of People’s Bank of China
  

Sources: FT, Bloomberg, IMF 
Pictures: Getty Images, Newscom 
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