China retained its central bank chief on Sunday, to everyone's surprise, amid an economic slowdown.
Yi Gang's reappointment as governor of the People's Bank of China was confirmed at a meeting of China's parliament, amid expectations that Yi Gang, who has reached retirement age , leaves office.
China has also retained other top economic officials, including Wang Wentao and Liu Kun, who will remain trade minister and finance minister, respectively, as well as National Health Commission director Ma Xiaowei, who has overseen policy. “
zero Covid
” of the country.
The government is working to revitalize China's economy, which grew just 3% last year, one of its weakest performances in decades.
General Li Shangfu, who was sanctioned by the US government in 2018 for buying Russian weapons, has been named defense minister.
Tensions between the United States and China have escalated in recent weeks, following the entry of a Chinese balloon into American airspace and accusations that Beijing may be supplying Moscow with weapons to use. against Ukraine.
Chinese President Xi Jinping has also, in a rare direct criticism, blamed the United States for dragging Western countries into "
a policy of containment, encirclement and repression against China
", according to a report by the 'New China News Agency released Monday evening.
Li Shangfu's appointment is "
a deliberate reaction against US sanctions
", said Manoj Kewalramani of the Takshashila Institute in Bengaluru, India.
The move "
demonstrates Beijing's willingness to engage in a tightrope strategy
" and "
will add a new hurdle to the already very limited engagement between the United States and China,
" he said. he noted with AFP.
Read alsoRe-elected, Xi Jinping challenges America
Xi's key allies
Beijing has also confirmed key allies of President Xi Jinping in his new cabinet.
Ding Xuexiang, one of Xi Jinping's top aides, and He Lifeng, a longtime colleague of the Chinese president, have been named deputy prime ministers by new premier Li Qiang.
Ding Xuexiang and He Lifeng received nearly all the votes from more than 2,900 deputies.
Former Tianjin mayor Zhang Guoqing and former Shaanxi provincial party secretary Liu Guozhong were also chosen as deputy prime ministers.
To cement his grip on power, Xi Jinping has appointed loyalists at the highest levels of government, with his staunch ally Li Qiang confirmed as prime minister on Saturday, a day after Xi was unanimously re-elected for a historic third term as president.
"
Both Ding and He have been close political allies of President Xi, and He Lifeng and President Xi have known each other for decades
," Nomura analysts wrote in a note this week.
“
These close relations could help the new government implement its policy and ensure inter-ministerial coordination
,” analysts said.
Xi Jinping's decision to rally loyalists at the top of the Communist Party has rekindled fears that he is prioritizing ideology over economic growth.
China has set a growth target of '
around 5%
' for 2023, one of the lowest in decades, as the world's second-largest economy largely missed its growth target amid tight restrictions and a smoldering real estate crisis.
China's parliament this week approved a sweeping restructuring of ministries, aimed at boosting self-sufficiency in manufacturing.
