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.
