Economics
China Clears Way for Top Xi Aide to Lead New Risk Watchdog
- Body overseeing regulators holds first meeting since congress
- Choice of leader shows Xi cadre Liu He may be the next in line
Photographer: Nelson Ching/Bloomberg
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China appointed 71-year-old vice premier Ma Kai to lead a top-level committee on financial oversight, a sign the job may soon pass to the recently-promoted Liu He, a key economic adviser to the president.
President Xi Jinping announced the establishment of the State Council Financial Stability and Development Committee at a twice-a-decade National Financial Work Conference in July, giving it the power to oversee the work of the country’s four regulatory bodies.