China to Review Official Appointments, Removals: CCTV
China to Review Official Appointments, Removals: CCTV
China’s top legislative body is set to discuss official personnel changes as investors await clarity on the new central bank governor and the whereabouts of China’s foreign minister. Rebecca Choong Wilkins reports on Bloomberg Television.
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0.12 -> Rebecca, what sort of personnel changes
are we talking about here?
4.019 -> And I guess the implications at such a
tenuous time for the Chinese economy.
9.09 -> The U.S.
is one we're watching very closely.
12.99 -> Yeah.
So this is quite sort of unexpected.
15.57 -> Just a one day meeting for the National
People's Congress Standing Committee.
20.49 -> So this is the body that when the full
NPC isn't in session, is responsible for
25.44 -> formally appointing and removing
figures.
28.17 -> So it's important sort of in two counts.
The first is whether we see the
31.47 -> ascension of Pangong Shan.
He's expected to take on that top job at
36.57 -> the PBOC.
And the second, of course, is Chin Gung,
39.6 -> China's foreign minister, who's been out
of the public eye since June 25th, being
43.62 -> very, very closely watched.
And there's a couple of options today
47.52 -> with that meeting.
So either we hear that nothing changes,
51.87 -> in which case we know mention of
Tiangong, in which case he's likely to
55.2 -> still be that minister and for another
month to months or indefinitely.
59.31 -> But it really depends on what actually
is going on behind the scenes here.
62.82 -> Or alternatively, we hear that he is
being removed, in which case that would
68.34 -> indicate there is some issue potentially
with his help or some other issue that
72.96 -> has come up.
So these are two scenarios really being
75.48 -> very, very closely watched.
Rebecca, what's the implications for the
80.25 -> economy and policymaking given all of
this?
85.72 -> Yeah.
I mean, I think the disappearance of
87.7 -> Chen Gang generally has underscored this
fear around China's policy making, being
93.25 -> something of a black box and impossible
to determine, really.
97.54 -> We've had chatter from diplomats in
Beijing and elsewhere around the
102.82 -> whereabouts of Tim for several weeks
now, really kind of somehow captured the
108.07 -> imagination and in the information
vacuum that the government has allowed
112.96 -> to flourish, all sorts of speculation
has been allowed to emerge.
116.92 -> And it isn't really critical moment for
Xi Jinping because he is trying to
122.17 -> stabilize his economy.
That growth we are seeing sort of start
126.25 -> to splatter as well as try and stabilize
economic ties.
130.479 -> Sorry, excuse me, as well as stabilizing
those diplomatic ties with countries
134.26 -> like the US and its allies, which
increasingly view China as a strategic
138.85 -> competitor.
So the one hand trying to sort of roll
142.63 -> out a reset this global relationship,
but the other having his top diplomat
148 -> missing in action, the person that he is
relying on in some ways to helm the
152.23 -> implementation of these type of efforts,
particularly with the sort of day to day
156.76 -> business of diplomacy, things like
meeting, greeting, having that
160.45 -> communication with other visiting
foreign ministers and business
163.81 -> delegations.
Yeah.
166.24 -> Rebecca It's fascinating, isn't it?
You've really seen that impact these
169.21 -> high level meetings that were to be held
with representatives from the UK.
173.86 -> The EU have now been put on hold.
How are we seeing, I guess, a leadership
177.97 -> manoeuvre who's potentially stepping in
14 gong as his whereabouts are still
183.61 -> unclear at this point between?
Yeah, it has been really interesting to
188.14 -> see how figures have sort of stepped in.
Mojo shoes is a possible option.
194.59 -> So this is Tim Gunn's deputy, although
his one time superior as a spokesperson
200.92 -> at the Foreign Ministry.
Now he has sort of leaned in.
203.95 -> He's a pretty well credentialed figure
here, taken overseas to do pretty
208.66 -> prominent overseas ambassadorial roles,
for example.
211.9 -> So we've seen him step in.
He stepped in at a BRICS foreign
215.38 -> minister meeting, for example.
So he's sort of junior to Tim Gunn,
219.37 -> potentially could step into that role.
We've also seen one guy who's a sort of
224.23 -> senior equivalent, senior figure to Tim
Gunn, also stepping into some of the
230.53 -> appointments and the meetings that
Tiangong has not been attending to.
Source: https://www.youtube.com/watch?v=9LtU1WYXrmc