Li Keqiang: China’s charismatic, truth-telling former premier mourned, as deep reforms and ‘Likonomics’ hang in the air
- Li Keqiang died in Shanghai on Friday morning at the age of 68 having served as premier from 2013-23, guiding China’s economy through a difficult period
- China’s first premier with a bachelor’s degree in law and a PhD in economics, Li pushed for the private economy, foreign investment and simplified government procedures
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‘People’s Premier’: former Chinese premier Li Keqiang dies of a heart attack at age 68
Former premier Li Keqiang has been fondly remembered for his economic tactics, known as “Likonomics” that featured efforts on deleveraging, structural reform and restrained stimulus, at a time when China’s economy has yet to secure a solid post-pandemic recovery.
Serving as premier from 2013-23, Li faced far more challenges than his predecessors, including a hostile external environment, resistance from interest groups and complex social-political conditions.
Approachable and pragmatic, Li steered the world’s second-largest economy through a difficult period during his decade as premier, making a tireless push for market-oriented reforms, simplified government procedures and a better business environment for private and foreign companies.
He was a charismatic truth-teller, and a popular premier in China
“Li has been committed to market-oriented reforms,” said Zhu Tian, a professor of economics at the China Europe International Business School (CEIBS). “He was a charismatic truth-teller, and a popular premier in China.”
As China’s first premier with a bachelor’s degree in law and also a PhD in economics, both from the prestigious Peking University, Li took on the mission to correct the economic imbalance caused by the implementation of a 4 trillion yuan (US$572 billion) stimulus package in 2008, which was used by his predecessor in an attempt to manage the global financial crisis.
