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Li Qiangi

Li Qiang, born in Wenzhou in 1959, became China's premier in March 2023. Li’s first provincial government job was in the civil affairs department, providing welfare to the rural poor. He was appointed party boss of Wenzhou in 2002 at the age of 43, making him the youngest person to take up that position in more than three decades, and he established himself there as a keen supporter of the city's private sector. He joined Zhejiang’s provincial party committee in 2003, less than a year after Xi took control of it, and was promoted to secretary general in 2004. He was Xi’s secretary until Xi left for Shanghai in 2007. Li became Zhejiang governor at the end of 2012 after Xi took over as Communist Party general secretary. In June 2016 he was named party secretary of Jiangsu province, but just 15 months later was appointed as the party secretary of Shanghai, where he oversaw increased foreign investment in the city, including the construction of Tesla's gigafactory. However, his reputation was stung in 2022 when he was blamed for a two-month Covid-19 lockdown that hurt the city's economy.

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The president and new premier have once again shown strong support for the city, backing for private entrepreneurs and a pragmatic approach to take the country forward in the post-pandemic era.

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  • Speaking at the Boao Forum for Asia, China’s Premier Li Qiang lashed out at trade protectionism and supply chain decoupling
  • Li said China’s economic growth momentum is strong, while criticising unilateral sanctions and long-arm jurisdiction by the US
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New Premier Li Qiang visited China’s southern Hunan province this week, visiting companies including electric car maker BYD and promising to create a business-friendly environment, while also pinning his hopes on entrepreneurs.

Chinese President Xi Jinping has warned that lessons must be learned from the food market turbulence caused by the Ukraine war, saying agriculture is a ‘national security issue of extreme importance’.

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Li Qiang’s stress on pursuing stable growth through macro policies, domestic demand and innovation will offer some tailwind for struggling equities, traders and analysts say.

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Visa-free entry will also resume for Hainan Island and for cruise ships that stop in Shanghai, and into Guangdong, for people from Hong Kong and Macau.

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Li Qiang was confirmed as China’s premier – its No 2 official – on Saturday during the ‘two sessions’, but the position is seen to hold diminishing authority as President Xi Jinping consolidates power.

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Li Qiang’s expected elevation to premier would make him the first such Chinese leader in three decades to have no experience in the central government or in west China, but he does have President Xi Jinping’s confidence.

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In first public appearance representing the country’s cabinet, Li says China’s leadership is working to create a favourable business environment.

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