Xi Adviser Liu Joins Politburo, Adding Economic Policy Clout
- Post may signal role leading new financial regulation approach
- Xi has said PBOC will play a stronger role in preventing role
Xi Presents New Politburo
China’s Communist Party further elevated the status of Liu He, one of President Xi Jinping’s closest financial and economic advisers, with an appointment to the Politburo.
The list of the 25 members of the Politburo, the country’s top ruling body after the elite seven-member Politburo Standing Committee, was released Wednesday by the official Xinhua News Agency after the end of the 19th Party Congress in Beijing.
Liu’s position may presage a role steering a new approach to financial regulation, a task all the more urgent given China’s growing debt pile. The Financial Stability and Development Committee, a high-level body created in July to oversee the main financial regulators, still lacks clear leadership even though its secretariat is formally at the central bank.