Govt chooses continuity and stability

New era begins: Xi casting his ballot during the fifth plenary session of the First Session of the 14th NPC at the Great Hall of the People in Beijing. — Bloomberg

The country unexpectedly kept its central bank governor and finance minister in their posts at the annual session of the rubber-stamp parliament, prioritising continuity as economic challenges loom at home and abroad.

President Xi Jinping, who has been installing allies in key roles in a government reshuffle as he begins a third five-year term, broke with convention yesterday to retain Yi Gang, 65, as governor of the People’s Bank of China (PBOC) and Liu Kun, 66, as finance minister. Both men have reached the official retirement age of 65.