China appoints new finance minister

November 07 2016

China’s Standing Committee of the National People’s Congress announced on November 7 that Xiao Jie will be the new Finance Minister, replacing the long-standing reformer Lou Jiwei.

Xiao worked under Premier Li Keqiang as vice-secretary at the State Council. Before that, he headed the state tax bureau for six years.

The government decided to appoint Xiao after increasing concerns about Chinese economic growth. Bloomberg said the new minister will be “tasked with juggling fiscal stimulus and efforts to rein in excess leverage in the world’s second-largest economy”.

Topics

News China Asia-Pacific

Anjana Haines

Managing editor ITR

Anjana manages ITR’s online and print coverage, alongside the publication’s awards and events worldwide. She covers all areas of corporate tax matters, but particularly disputes, transfer pricing arrangements and tax treaty analysis.

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