Li Qiang has Xi Jinping's confidence but will he have the strength of character to live up to his name and win back investors' confidence?
How Li Qiang balances Xi’s directives of central control and common prosperity with the interests of private enterprises is the key question.
Despite a short hiccough shortly after XJP's takeover, and despite a clear preference in Beijing for "big government", for the most part Shanghai has managed to maintain its long-standing tradition of low impact reliable government. Describing the Shanghai government as 'efficient' might be going too far, but comparatively speaking that epithet is probably reasonable. Li Qiang shares credit for this, and it follows that he may ultimately manage to bring some of this thinking to Beijing. Given the current mess left behind after three years of government-imposed chaos, he may have an opportunity to do just that. Let's hope so.