On Oct. 27, the Chinese Communist Party (CCP) announced the passing of Li Keqiang, the former premier of the CCP. The official statement indicated that Li suffered a fatal heart attack while swimming during a visit to Shanghai. A ceremony honoring the 68-year-old took place in Beijing on Nov. 2, the same day his body was cremated.
Overhaul of China’s State Council
In the aftermath of Chinese leader Xi Jinping’s 20th National Congress and Two Sessions, the seven ministries of China’s State Council, previously overseen by Li, witnessed a changing of the guard. Individuals displaying greater loyalty to Mr. Xi replaced Li’s appointees in the ministries of Transport, Foreign Affairs, National Defense, Central Bank, Finance, Science and Technology, and Civil Affairs. The motives behind these changes were not officially explained.A surprising development occurred on Oct. 24 when Mr. Xi visited the Central Bank and the State Administration of Foreign Exchange, marking the first time the top CCP leader had visited the central bank since the founding of the CCP. Traditionally, it was the premier or deputy premier in charge of economic affairs who visited these institutions. Post-visit, Mr. Xi convened a closed-door conference on China’s finances.
Political commentator Li Yanming proposed that the State Council changes were part of an ongoing consolidation of Mr. Xi’s power base. Particularly intense struggles among top CCP officials were observed in Foreign Affairs and National Defense changes.
Li Yanming further suggested that the changes in the leadership of Finance and Central Bank ministries, which are core institutions of the Chinese financial system and the financial resources of the CCP’s top elite families, may signal a looming storm of purges in the financial system, based on Xi’s demonstrated interest in these two crucial ministries.
Purging Disloyal CCP Members
Zhao Wei (anonym), a second-generation communist born to a high-ranking CCP official, disclosed to The Epoch Times that a significant purge had been unfolding in China since April. He explained: “There is a severe internal power struggle in China, where some individuals have shown disloyalty to Xi Jinping, who seeks to reclaim ill-gotten gains. Those affected by the purge are now scrambling to secure their financial interests.”Mr. Zhao emphasized that this struggle aims to dismantle opposing party foundations, factions, core power structures, and accumulated wealth. The aftermath renders the targeted individuals powerless, reduced to mere figureheads or commanders without troops.