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China's Xi nominates Li Qiang to become premier
AI In-brief 14 Sept 16:33

China's Xi nominates Li Qiang to become premier

  • President Xi Jinping nominated close ally Li Qiang as China's new premier, a pivotal role in managing the world's second-largest economy.
  • Li Qiang faces the daunting challenge of revitalizing China's uneven post-COVID economic recovery, boosting consumer and private sector confidence, and navigating global economic headwinds.
  • His immediate priority is to achieve China's modest 2023 growth target of around 5% without triggering significant inflation or accumulating more debt.
  • This nomination is part of a broader government reshuffle where Xi is installing loyalists in key positions, further consolidating his power after securing an unprecedented third presidential term.
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