News Headline Summary

Xi Jinping and Li Keqiang named to central committee, according to Sina.com

- Wang Qishan, Liu Yunshan, Liu Yandong, Li Yuanchao, Yu Zhengsheng, Wang Yang, Zhang Gaoli, Zhang Dejiang are named to central committee.

Update details:

- Xi Jinping is touted to take the top position of general secretary of the politburo standing committee.
- Li Keqiang is also touted become second in command in the politburo standing committee as the Premier of the Peoples Republic of China.
- Chinese central committee consists of 200 full members with 170 alternative members.
- The next stage is for the election of politburo which consists of 25 members.
- From the politburo, a 9 man politburo standing committee will be elected.
- Politburo standing committee are the main controllers of power in the Peoples Republic of China.

*Latest: Sources are suggesting that Xi and Li will front the standing committee with Wang Yang seen as the key political reformer will be left out. This would be largely in-line with market expectations with the talk also suggesting that the top group will be cut to 7 members from the existing 9.

- For a graphic representation of the structure of the political standing in China please see: http://on.wsj.com/WfhlFZ

Reaction details:

- There hasn't been any reaction to these announcements as the members named to the central committee are all as expected.
- The more interesting part for the financial markets will be who makes it through to the final standing committee on the Politburo as this ultimately is where China's decisions are made.
- The members of this are not expected to be known until tomorrow.

Print 03:09, 14 Nov 2012 - Asian News - Source: Newswires