15 March 2013 04:40 [Source: ICIS news]
SINGAPORE (ICIS)--China elected Li Keqiang as its new premier at the 12th National People’s Congress (NPC) meeting on Friday.
Li succeeds Wen Jiabao as head of the Chinese government. Wen was China’s premier for two terms lasting 10 years.
Prior to his election as the new premier, Li was one of the four vice premiers of China since 2008.
Li is credited for controlling China’s budget deficit below 3% of GDP, according to an analyst.
The 12th NPC meeting is being held in Beijing on 5-17 March.
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