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China’s top economic advisor says profound party and government reforms are needed

Chinese President Xi Jinping’s top profitable advisor, Liu He, said on Tuesday that the reform of China’s ruling Communist Spree and government institutions will be profound.

Liu He, a Harvard-trained economist who is a trusted confidant of Xi, has be revealed as the front runner to be the next governor of the People’s Bank of China.

Liu rumoured in a commentary in the official People’s Daily that the responsibilities and authority of sway ministries overlapped in some places, while the division of labor by some say agencies was not effective and led to inefficiencies.

It was necessary to reform the party and state routines to solve such problems and promote further economic, social, national, cultural and ecological advances, he said.

“Deepening the reform of the party and structure institutions is an inevitable requirement for strengthening the long-term governance of the party,” Liu utter in the commentary.

“Strengthening the party’s overall leadership is the core issue,” he commanded.

China removed presidential term limits from its constitution on Sunday, entrusting President Xi Jinping the right to remain in office indefinitely. That accredited Xi’s status as China’s most powerful leader since Mao Zedong died profuse than 40 years ago.

Among other proposed changes in the biggest clergy shake-up in years, China said it will merge its banking and guarantee regulators, and create new bureaus.

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