Central Financial and Economic Affairs Commission explained

Central Financial and Economic Affairs Commission
Formation:March 1980
Type:Supra-ministerial policy coordination and consultation body
Vat Id:(for non-profit org) -->
Headquarters:Huairen Hall, Zhongnanhai[1]
Location:Beijing
Owners:-->
Leader Title:Leader
Leader Name:Xi Jinping
Leader Title2:Deputy Leader
Leader Name2:Li Qiang
Leader Title3:Office Director
Leader Name3:He Lifeng
Leader Title4:Office Deputy Directors
Parent Organization:Central Committee of the Chinese Communist Party
Subsidiaries:General Office of the Leading Group for Financial and Economic Affairs
Central Financial and Economic Affairs Commission
S:中央财经委员会
P:Zhōngyāng Cáijīng Wěiyuánhuì
Links:no
Order:st

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.

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 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

19th Committee

20th Committee

References

Sources

Notes and References

  1. News: Chen. Zhu Qin. 习近平主持中央财经领导小组会议，还有谁在座？. 11 February 2018 . The Paper . Shanghai Oriental Press Co. . 2014-06-19.
  2. News: Zhao. Yajuan. 解密中央财经领导小组. Eastday.
  3. Web site: CPC releases plan on deepening reform of Party and state institutions . 24 March 2018 . People's Daily Online.
  4. Web site: Decoding Chinese Politics . 2 October 2023 . Asia Society.
  5. News: Yue Huairang (Chinese: 岳怀让) . 14 December 2018 . zh:韩文秀已任中央财办分管日常工作的副主任，并明确为正部长级 . https://www.thepaper.cn/newsDetail_forward_2738887 . 7 November 2022 . thepaper . zh.
  6. News: Cai . Vanessa . 11 April 2024 . Chinese Vice-Premier He Lifeng’s growing influence on economic policy shown as former subordinate joins top finance policy body . 12 April 2024 . South China Morning Post.
  7. News: Zhuang . Sylvie . 7 September 2023 . China names veteran economic planner Yang Yinkai to Communist Party’s top financial policy body . . 8 September 2023.

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