BEIJING, China – Li Qiang, the former Communist Party chief of Shanghai, took office on Saturday, March 11, as China’s premier, the country’s No.2 post, putting the close ally ofWidely perceived to be pragmatic and business-friendly, the 63-year-old Li faces the daunting task of shoring upuneven recovery in the faces of global headwinds and weak confidence among consumers and the private sector.
Li Qiang is the first premier since the founding of the People’s Republic never to have served previously in the central government, meaning he may face a steep learning curve in the initial months on the job, analysts said. On Saturday, Li received 2,936 votes, with three votes against and eight abstentions, according to totals projected on a screen inside the Great Hall of the People in central Beijing.
Numerous other Xi-approved officials are due to be confirmed on Sunday, March 12, including vice premiers, a central bank governor and other ministers and department heads.China’s economy grew just 3% last year, and on the opening day of parliament Beijing set a modest 2023 growth target of around 5%, its lowest goal in nearly three decades.
“The leadership has already accepted two years of exceptionally weak economic growth in the name of COVID containment. Now that containment is gone, they won’t accept another,” he said.