China tightens grip as Li Keqiang's pro-market reforms retreat

Beijing's recent clampdown heightens risks to economic stability

20231027N Li and Xi

Chinese President Xi Jinping, left, has tightened the state's grip on the economy, departing from the market-focused approach of former Premier Li Keqiang, right. (Photo by Yusuke Hinata) 

IORI KAWATE, Nikkei staff writer

BEIJING -- The death of former Premier Li Keqiang on Friday served as a reminder of the decline of the pro-market reformist wing of the Chinese Communist Party, as President Xi Jinping extends the government's reach over the economy.

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