Xi Jinping Takes Control of China's Economic Policymaking, Diminishing Role of Premier

Xi Jinping has consolidated power over economic policymaking, with Premier Li Qiang's profile diminished compared to his predecessor.

He Lifeng, a deputy prime minister and longtime Xi ally, has emerged as the president's economic policy tsar across multiple key party bodies.

Economics has taken a backseat to national security in leadership priorities; powerful party commissions now drive more policymaking.

The State Council and central bank appear to have lost influence over economic decisions under this new structure.

Foreign companies seeking insight on Chinese economic direction should look to Mr. He rather than the prime minister or central bank head.