Yan Pengcheng, who previously worked under He in various roles at the National Development and Reform Commission (NDRC), has recently been appointed as a deputy head of the general office of the Central Financial and Economic Affairs Commission. The Central Financial and Economic Affairs Commission is a powerful Communist Party body responsible for managing the second-largest economy in the world. He is the director of the general office, which oversees the daily operations of the commission.
Yan’s new position was announced at a party international relations event in Beijing, making him He’s fourth deputy at the commission. He has a master’s degree in economics and has held positions such as spokesman and head of the department of national economy at the NDRC. In 2021, he became the vice-governor of Hebei province and a member of the provincial party’s standing committee.
Before serving as vice-premier, He was the head of the NDRC, China’s top state planner, and is now one of President Xi Jinping’s key economic advisers. He was confirmed in his current role at the finance and economics commission in October, as his predecessor Liu He gradually transferred responsibilities for economic policy.
Yan is not only an old subordinate but also a friend to He from their time together at NDRC. They had worked closely together to implement China’s Five-Year Plans, with Yan leading various projects and initiatives under He’s guidance. This bond will likely be strengthened further by Yan’s appointment to such an important role within the economic affairs commission.
The presence of these former colleagues highlights not only their loyalty to He but also their expertise in managing China’s economy. Yang Yinkai, another former associate from NDRC who was named as a deputy head of general office last year, brings extensive knowledge about personnel management to his new role.
Overall, Yan Pengcheng’s appointment marks another significant milestone in President Xi Jinping’s efforts to streamline China’s economic policies under his administration. With more than two decades of experience working under some of China’s most prominent leaders, Yan will undoubtedly bring valuable insights to his new position as one
