Xi seen giving China's economic reins to trusted ally in third term

He Lifeng's rise stokes concern over the future of market reforms

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He Lifeng, left, and Xi Jinping. He is like a "brother" to Xi, according to a source familiar with Chinese politics. (Source photos by Akira Kodaka and Reuters)

IORI KAWATE, Nikkei staff writer

BEIJING -- Chinese President Xi Jinping is expected to appoint one of his closest allies as economic czar as he prepares to kick off a third term at the helm of the Communist Party, a move seen further expanding Xi's involvement in macroeconomic policy and setting back market reforms.

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