Top Communist Party official's inclusion on task force reflects China's economic concerns

The inclusion of top party official Liu Yunshan in an influential macroeconomy task force suggests the new leadership under President Xi Jinping has attached greater importance to economic work and reflects concerns over challenges faced by the world's second-largest economy, analysts say.

Liu, a member of the innermost Politburo Standing Committee and head of the party Secretariat, the party nerve centre, has been made a member of the Central Leading Group on Financial and Economic Affairs.

On Monday, Xi chaired the group's meeting. Also in attendance were deputy group leader Premier Li Keqiang, and members Liu and Executive Vice-Premier Zhang Gaoli.

In past administrations since its 1980 debut, the group has been headed by the party chief and state president, aided by the premier and vice-premiers. No party official has previously been seen in the task force. Jianguan Shen, chief economist of Mizuho Securities Asia Limited in Hong Kong, said Liu's inclusion was significant. "Indeed, the inclusion shows the importance of economic and financial affairs in the overall policymaking of the new leadership," he said. "It may signal that economic development and reform will be the priority in the coming future."

Zhao Xijun, a professor of economics and deputy director of Renmin University's Finance and Securities Institute, said Liu's inclusion suggested the need for more cooperation and coordination in economic management among departments.