Beijing will soon announce a plan to allow foreign commodities exchanges to set up their own futures delivery warehouses in the mainland's first free-trade zone in Shanghai, directly challenging Singapore and South Korea's regional dominance in this business and helping Hong Kong Exchanges and Clearing to expand into commodities trading.
Li Keqiang, born in 1955, became China's premier in March 2013. Like ex-president Hu Jintao, his power base lies with the Communist Youth League, where he was a member of the secretariat of the league’s central committee in the 1980s and later in the 1990s the secretariat’s first secretary. His regional governance experience includes a period as vice party boss, governor and party boss of Henan province between 1998 and 2003 and party boss of Liaoning province beginning in 2004. He became vice premier in 2008. Li graduated from Peking University with a degree in economics.