Bankers Gain Over Engineers as Xi Promotes Future China Leaders
- 16 officials born in the 1970s have sub-ministerial titles
- Managing financial risk has moved up policy agenda, it says
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Chinese President Xi Jinping is installing ex-bankers and former executives from state-owned enterprises to key political springboards, suggesting future governments could look very different from the current one dominated by engineers.
A survey by the Economist Intelligence Unit found that 10 of the 16 politicians born in the 1970s who now hold “sub-provincial” or “sub-ministerial” posts hail from banking or industrial SOE backgrounds. Such prominent ranks often come with membership to a provincial party standing committee or a vice-ministerial role, well-positioning them for top posts in China’s seniority-centric political system.