China's Communist Party unveils new leaders

Posted by Forexsq 707 days ago (http://money.cnn.com)
img China's ruling Communist Party named seven men to its powerful Politburo Standing Committee Thursday in a highly orchestrated ceremony that emphasized party unity.

The ritual, which took place in Beijing amid heavy security, caps the 18th Communist Party National Congress. The selection of the chosen seven, who can serve for a decade, provides a glimpse into the current thinking of party officials and might contain hints about the government's priorities, as well as the internal jockeying and political machinations required to choose China's next generation of leaders.

Xi Jinping, a chemical engineer with a prestigious pedigree, was named as the next party boss and tapped to be China's next president. He will also assume control of the military.

As expected, 57-year-old Li Keqiang was named Xi's top deputy, and will likely replace Premier Wen Jiabao in March 2013.

Zhang Dejiang, Yu Zhengsheng, Liu Yunshan, Wang Qishan and Zhang Gaoli fill out the group, which wields tremendous influence over policy.

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