Xi Jinping replaced Hu Jintao as head of the Chinese Communist Party and the nationâ€™s military, ushering in the fifth generation of leaders who are set to take control of the worldâ€™s second-biggest economy.
Xi, 59, succeeds Hu as general secretary of the 82 million- member party that has run China since 1949, the official Xinhua News Agency announced. Heâ€™s joined on the elite Politburo Standing Committee by Li Keqiang, 57, who is forecast to replace Premier Wen Jiabao at a March meeting. The Standing Committee has seven members, down from nine.
Xiâ€™s immediate assumption of the military leadership, unlike his two predecessors, and the decision to cut the Standing Committee to seven from nine leave fewer voices to obstruct consensus and may help him consolidate control. Those moves may also speed up decisions on challenges ranging from an economic revamp and shrinking the nationâ€™s wealth gap to a strengthened campaign against corruption and managing territorial disputes with Japan.
- 2Chicago PMI drops sharply in July
- 2U.S. Could Move to Sanction Russia Derivatives, Short-Term Funds
- 2U.S. Stocks Slide as Exxon, Whole Foods Fall on Results
- 2U.S. jobless claims up, wage growth starting to push higher | Top Forex Brokers
- 2Jobless Claims in U.S. in Past Month Drop to Eight-Year Low
- 3Stock market live blog: Dow erases gain, but S&P still up; Fed statement fears get the blame
- 2Economy in U.S. Grows More Than Forecast
- 2Treasuries Drop, Metals Rise After GDP; Stocks Pare Gains
- 2Dollar Rises to 4-Month High as U.S. GDP Tops Forecasts
- 2ADP Says Companies in U.S. Boosted Payrolls by 218,000
Become Our Fan
apple asia stocks asian stocks australian dollar bernanke boj china dollar ecb economy eur eur/usd euro euro zone europe stocks european central bank european stocks eurozone eurusd facebook fed federal reserve forex forex news forex trading fx gbp/usd gold google greece imf japan obama oil pound spain stock stock market stocks swiss franc u.s dollar u.s. dollar u.s. economy u.s. stock u.s. stock futures u.s. stocks us dollar usd wall street yen