China central bank governor, economic head exit party leadership amid growth dip
China’s Communist Party: The possible changes to the policy team come amid heightened uncertainty about China’s growth outlook.
China’s Communist Party congress signaled a possible shake-up of the nation’s economic policy team at a time of heightened concern about the world’s second-largest economy.
Premier Li Keqiang, 67, economic czar Liu He, 70, central bank governor Yi Gang, 64, Finance Minister Liu Kun, 65, and banking regulator Guo Shuqing, 66, were dropped off a list of full or alternate members of the Central Committee -- the country’s most senior officials and political elites -- according to official releases published Saturday at the end of the party’s congress.
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While that suggests they may retire, being left off the lists don’t automatically mean the officials will leave their government posts. Those positions may only become clearer in March 2023, when the national legislature meets.
The possible changes to the policy team come amid heightened uncertainty about China’s growth outlook as Covid lockdowns and the worst housing market downturn on record batter the economy. Gross domestic product growth is forecast to slow to just 3.3% this year, which would be the weakest pace in more than four decades barring 2020’s Covid slump.