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Xi’s Vice Premier to Oversee Finance, Housing in Shake-Up

  • He Lifeng’s roles show property is key for financial stability
  • Vice Premier Ding is said to take responsibility for tech
He Lifeng
He LifengPhotographer: Lintao Zhang/Getty Images
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China has tasked its Vice Premier He Lifeng, a close confidante of President Xi Jinping, with the mandate of shoring up the nation’s embattled property industry as well as the $60 trillion financial sector, according to people familiar with the matter.

He, 68, will have all the financial regulators, including the People’s Bank of China and the newly-created super financial watchdog, under his purview, said the people, asking not to be identified discussing a private matter.