Central Financial and Economic Affairs Commission

The Financial and Economic Affairs Commission of the Central Committee of the Chinese Communist Party, commonly called the Central Financial and Economic Affairs Commission, is a commission of the Central Committee of the Chinese Communist Party in charge of leading and supervising economic work of both the CCP Central Committee and the State Council. The Commission is generally headed by CCP General Secretary or Premier of the State Council.

Central Financial and Economic Affairs Commission
中央财经委员会
FormationMarch 1980
TypeSupra-ministerial policy coordination and consultation body
HeadquartersHuairen Hall, Zhongnanhai[1]
Location
  • Beijing
Leader
Xi Jinping
Deputy Leader
Li Qiang
Director
He Lifeng
Parent organization
Central Committee of the Chinese Communist Party
SubsidiariesGeneral Office of the Leading Group for Financial and Economic Affairs
Central Financial and Economic Affairs Commission
Simplified Chinese中央财经委员会
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It is currently led by General Secretary Xi Jinping, with Premier Li Qiang as its deputy leader. The Commission coordinates closely with the National Development and Reform Commission[2] and is considered the highest body for coordination and discussion on issues related to the economy. The Office of the Commission, handling the daily affairs of the body, is currently headed by He Lifeng.

History

The Commission was originally established as the Central Leading Group for Financial and Economic Affairs (Chinese: 中央财经领导小组; pinyin: Zhōngyāng Cáijīng Lǐngdǎo Xiǎozǔ) on March 1980. The decision to establish this group was taken by the CCP Politburo Standing Committee on March 17, 1980 to replace the State Commission for Economy and Finance, so as to coordinate the work necessary to meet the requirements of Deng Xiaoping's "Reform and Opening Up" policy.

In March 2018, the leading group was transformed into the Central Financial and Economic Affairs Commission.[3]

Functions

The commission has traditionally been the core decision-making body of the CCP in regards to economic policy and public finance. It generally meets around twice a year to discuss the overall direction of the Chinese economy. The Office of the Commission, handling the daily affairs of the body, is critical to coordinating high-level policymaking in economic and financial topics.[4]

Leaders
  1. Zhao Ziyang (1980–1989, as Premier then General Secretary)
  2. Jiang Zemin (1989–2003, as General Secretary)
  3. Hu Jintao (2003–2013, as General Secretary)
  4. Xi Jinping (2013–present, as General Secretary)

Composition

18th Committee
  • Leader
    • Xi Jinping, General Secretary of the Chinese Communist Party, President of the People's Republic of China
  • Deputy Leader
    • Li Keqiang, Politburo Standing Committee, Premier of the People's Republic of China
  • Director of General Office
  • Members

19th Committee
  • Leader
    • Xi Jinping, General Secretary of the Chinese Communist Party, President of the People's Republic of China
  • Deputy Leader
    • Li Keqiang, Politburo Standing Committee, Premier of the People's Republic of China
  • Director of General Office

20th Committee
  • Leader
    • Xi Jinping, General Secretary of the Chinese Communist Party, President of the People's Republic of China
  • Deputy Leader
    • Li Qiang, Politburo Standing Committee, Premier of the People's Republic of China
  • Director of General Office
  • Deputy Director of General Office
  • Members
    • Cai Qi, Politburo Standing Committee, First Secretary of the Secretariat
    • Ding Xuexiang, Politburo Standing Committee, First Vice Premier

References

Citations
  1. Chen, Zhu Qin (2014-06-19). "习近平主持中央财经领导小组会议，还有谁在座？". Shanghai Oriental Press Co. The Paper. Retrieved 11 February 2018.
  2. Zhao, Yajuan. "解密中央财经领导小组". Eastday.
  3. "CPC releases plan on deepening reform of Party and state institutions". People's Daily Online. Retrieved 24 March 2018.
  4. "Decoding Chinese Politics". Asia Society. Retrieved 2 October 2023.
  5. Zhuang, Sylvie (7 September 2023). "China names veteran economic planner Yang Yinkai to Communist Party's top financial policy body". South China Morning Post. Retrieved 8 September 2023.

Sources
  • Xu, Dashen. Records of the People's Republic of China (《中华人民共和国实录》). Jilin People's Publishing House, 1994.
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