China's political elite shortlist favored leaders

China’s previous, present and future paramount leaders have drawn up a list of candidates for the incoming Politburo Standing Committee, the country’s leading political body, Reuters reported, citing anonymous sources. Former President Jiang Zemin, current President Hu Jintao and likely presidential successor Xi Jinping reduced the PSC to seven from a previous nine members, a change that would allow Xi to implement reforms more easily. The list, which is subject to review by other members of the political elite, excludes Guangdong province Party Secretary Wang Yang, a political progressive, but includes propaganda minister Liu Yunshan, whose initiatives have sought to curtail internet freedom, the sources said. Amid the political upheaval, State Council members have asked policy think-tanks to recommend plans for economic reform, five policy advisers told Reuters. The ambitious agenda includes curbing the strength of state firms and increasing the freedom for setting interest rates and the value of China’s currency.