He Lifeng

 

Chinese Vice Premier He Lifeng has assumed key positions at the Central Financial Commission and the Central Financial Work Commission, two crucial bodies in China's financial policymaking, according to media reports on Monday.

The news marks a major step, as China is focusing on preventing and defusing financial risks and ensuring high-quality development in the financial industry, after the tone-setting top-level central financial work conference last week. 

On Monday, the Financial News, an industry news outlet under the People's Bank of China, the central bank, reported that the Central Financial Work Commission held a meeting on Friday to convey and study the spirit of the central financial work conference. 

He, director of the Office of the Central Financial Commission and Party chief of the Central Financial Work Commission, attended the meeting.

The report showed that He has assumed those key positions. The central financial work conference stressed the importance of the two bodies in the country's financial work. 

Chinese Vice Premier He Lifeng meets with U.S. Treasury Secretary Janet Yellen in Beijing, capital of China, July 8, 2023. (Xinhua/Yue Yuewei)

The conference noted that it is imperative to improve the systems and mechanisms for the Party leadership of financial work, give full play to the role of the Central Financial Commission, and ensure proper coordination. It also called for giving full play to the role of the Central Financial Work Commission, and strengthen Party building throughout the financial system in a down-to-earth manner.

At the meeting of the Central Financial Commission on Friday, He stressed that studying and implementing the spirit of the central financial work conference is the most important political task for the financial system at present, according to the Financial News report.  

The meeting also stressed that the financial system will adhere to the financial development path with Chinese characteristics and ensure that all financial work outlined by the central financial work conference will be carried out strictly to the letter.

He has also assumed various key economic and financial positions. He has assumed the post as the director of the Office of the Central Commission for Financial and Economic Affairs, a top financial and economic policymaking body. 

He is also China's lead person for economic and trade affairs with the US. 

China's Foreign Ministry announced on Monday that He will visit the US from November 8 to 12, at the invitation of US Treasury Secretary Janet Yellen. The announcement referred to He as vice premier and China's lead person for economic and trade affairs with the US.

The announcement marked another positive sign that Chinese and US officials are working to stabilize ties, as official and business exchanges have been growing rapidly in recent months. The trip, which will likely focus on economic and trade issues, could pave the way for higher-level talks later this month.

Global Times