New big role for trade war negotiator Liu He on tech panel as China bids to strengthen its hand
Vice-premier named deputy head of revamped policy committee in latest evidence of the growing importance of technology to the Chinese government
China’s top trade negotiator Liu He has been given another potentially influential position, on the country’s technology development committee, showing the leadership’s growing trust in him despite escalating tensions with the US.
The State Council, China’s government cabinet, has reorganised a high-level policy group on science and technology and assigned its deputy leadership to Vice-Premier Liu He, one of Chinese President Xi Jinping’s most trusted advisers.
Mainland and Hong Kong tech shares rose on Thursday amid hopes that the revamping of the technology leading group will mean more support for the sector.
Liu now has four top economic management titles, including leading trade talks with the United States, heading the powerful Financial Stability and Development Committee that manages China’s financial and economic risks, and leading the long overdue reform of state-owned corporate enterprises.
The new position further increases Liu’s influence in the government, which could give him more leverage in any future talks with US President Donald Trump’s administration.