Li Qiang becomes China's premier, tasked with reviving economy

INA-sources
 
Li Qiang, the former Communist Party chief of Shanghai, took office on Saturday as China's premier, the country's No.2 post, putting the close ally of President Xi Jinping in charge of reviving an economy battered by three years of COVID-19 curbs.
 
Widely perceived to be pragmatic and business-friendly, the 63-year-old Li faces the daunting task of shoring up China's uneven recovery in the faces of global headwinds and weak confidence among consumers and the private sector.
 
Li takes office as tensions rise with the West over a host of issues including U.S. moves to block China's access to key technologies and as many global companies diversify supply chains to hedge their China exposure due to political risks and the disruptions of the COVID era.
 
The career bureaucrat replaces Li Keqiang, who is retiring after two five-year terms during which his role was seen to be steadily diminished as Xi tightened his grip on power and steered the world's second-largest economy in a more statist direction.
 
Source: Reuters