Liu He entrusted to reform state-owned enterprises

Liu He, Chinese vice premier and key economic advisor to Xi Jinping, has been made head of a working group with the task of pushing through reforms to the country’s inflated state-owned enterprise sector.

The team under Liu will consist of 14 officials from top government and Communist party organisations, including the country’s securities regulators, the statistics bureau and the central bank.

Liu has often been characterised by Western analysts as a reform-minded individual with a US education. He was recently selected to lead Beijing’s trade negotiations with the US, which ultimately have not been able to secure concrete results.

Liu takes over the reform role from former Vice Premier Ma Kai, according to Caixin. In addition to this latest position, Liu has also recently taken on the role of head of both the Financial Stability and Development Committee and the State Council’s Small Business Promotion Leading Group.