Summary of today’s Essential Eight:
NPC meeting concludes - As expected, Ding Xuexiang, He Lifeng, Zhang Guoqing, Liu Guozhong are the new vice premiers. Yi Gang and Liu Kun remained as head of the PBoC and Minister of Finance, respectively, in a bit of a surprise, though I expect will be replaced once the new bureaucratic reforms are in place.
Xi’s speech at the end of the NPC - Xi’s speech was significantly shorter than the ones he gave the first two times he became President. Unsurprisingly the themes do not diverge from what came out of the 20th Party Congress. He mentions Common Prosperity, as well as better integrating “development and security” and the need to “ensure the new development pattern with a new security pattern” and to “build the people's army into a great wall of steel that effectively safeguards national sovereignty, security and development interests.”
Premier Li Qiang meets the press - Premier Li did not really say anything new in terms of policies from what was an…