This content is from: China

China appoints new finance minister

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”.

The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms and Conditions and Privacy Policy before using the site. All material subject to strictly enforced copyright laws.

© 2021 Euromoney Institutional Investor PLC. For help please see our FAQ.

Instant access to all of our content. Membership Options | 30 Day Trial

Related