Zhong Huli Peng Takes Over 'Xi Economic Adviser' Liu He’s Position... Appointed to Central Financial and Economic Affairs Commission

Introduction of Heoripung as Chief of Secretariat, Central Committee on Economy and Finance
Meeting with French President's Foreign Policy Advisor on the 29th

He Lifeng, Vice Premier of the State Council of China, appears to have completely replaced former Vice Premier Liu He, known as 'Xi Jinping's economic strategist.' He has taken over the position of Director of the General Office of the Central Financial and Economic Affairs Commission (Central Finance and Economics Commission), which Liu held even after his retirement, becoming the highest-ranking official coordinating China's economic and financial policies.

China's state-run Xinhua News Agency reported on the 29th that He Lifeng, a member of the Political Bureau of the Communist Party Central Committee and Director of the General Office of the Central Finance and Economics Commission, met with Emmanuel Bonne, foreign policy advisor to the President of France, in Beijing. Prior to this report, it was publicly known that this position was held by former Premier Liu He, who stepped down from the Vice Premier post in March.

[Image source=Yonhap News]

China's Pengpai News described this as "evidence that Vice Premier He Lifeng has been appointed as the head of the Central Finance and Economics Commission." Earlier, Hong Kong's South China Morning Post (SCMP) reported on the 24th that Liu He still held the position of Director of the General Office of the Central Finance and Economics Commission, suggesting he continued to act as Xi Jinping's strategist. A Harvard graduate, Liu has been regarded as a U.S. expert and a pro-market reformist.

The Central Finance and Economics Commission is a party organization established in 2018 during Xi Jinping's second term by upgrading the former Central Finance and Economics Leading Small Group. It is the highest economic policy decision-making body in China. Xi Jinping himself serves as the director, while the Director of the General Office assists Xi and is responsible for frontline policy management and overall coordination. In May, Xi emphasized at a commission meeting that the body "bears enormous responsibility and must continue to play a role in formulating core economic guidelines." Recently, the commission's authority was further strengthened by incorporating the Party Central Rural Work Leading Group.

[Image source=Yonhap News]

He Lifeng, appointed at the National People's Congress (NPC) in March marking the start of Xi Jinping's third term, has expanded his role as the public face of economic leadership. Born in 1955 in Guangdong Province, he is considered a key member of the 'Xijiajun' (習家軍, Xi Jinping's close associates), having formed ties with Xi when Xi served as Vice Mayor of Xiamen in the 1980s, during which He worked as Deputy Director of the General Office of the Xiamen Municipal Government.

In July, He held talks in Beijing with U.S. Treasury Secretary Janet Yellen during her visit to China, followed by a high-level meeting with French Finance Minister Bruno Le Maire the same month. Earlier this month, he met with German Finance Minister Christian Lindner at the 3rd China-Germany High-Level Financial Dialogue held in Frankfurt. Some analysts suggest that by overseeing China-U.S. trade and leading negotiations with major European countries such as France and Germany, He Lifeng is exerting greater influence compared to his predecessor.

This content was produced with the assistance of AI translation services.