Li Qiang’s meteoric rise has been attributed to political loyalty and his personal connection to President Xi Jinping. Having Xi’s trust could mean more autonomy to steer China’s economy, says Bo Zhiyue.
It is also likely that if Li Qiang is considered deeply trustworthy, he might be given more autonomy to do his job, especially when compared to his predecessor Li Keqiang who Xi saw as being from a rival faction and sidelined in recent years.
When he was governor of Zhejiang, he promoted information economy and small towns with special characteristics. He was a strong supporter of private entrepreneurs and enterprises such as Jack Ma’s Alibaba and Wahaha Group’s Zong Qinghou. In Jiangsu, he was focused on technological innovation and talked about the development of high-tech enterprises and the integration into the global industrial division of labour.
However, one has to be cautious about being overly optimistic about Li Qiang’s presumed autonomy and capabilities. Like in Shanghai in 2022, Li Qiang would not hesitate to change his policy overnight for his own political survival.If Xi does accord more autonomy to Li Qiang on economic matters, this would certainly be seen as great news for domestic and foreign investors.
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