Economy News

Chinese premier Li confirms he will step down next March

BEIJING (Reuters) – China’s Premier Li Keqiang confirmed on Friday plans to step down after his current term expires next March.

The No. 2 in the hierarchy of China’s ruling Communist Party, Li has been premier since 2013, and is constitutionally limited to two terms.

“This is the last year I will be premier,” Li told a news conference.

President Xi Jinping is expected to secure a precedent-breaking third term as party chief at a party meeting this autumn to elect leaders for the next five years.

In 2015, China revised its constitution to drop a limit of two terms for those holding the post of president.

Party leaders can choose the next premier.

Source : Reuters

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