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Report: China's Xi sets party convention to select next government, regulators

Chinese President Xi Jinping is expected to preside over a Communist Party convention by the end of February to approve the appointments of the country's next monetary and financial regulators and other government officials, Bloomberg News reported, citing people familiar with the matter.

The spotlight will likely be on Xi's choice for central bank head with People's Bank of China Governor Zhou Xiaochuan believed to be approaching retirement and State Council Premier Li Keqiang seen likely to keep his post, the report noted.

Among those that have emerged as candidates to succeed Zhou are top banking regulator Guo Shuqing, Hubei provincial party chief Jiang Chaoliang, and top presidential economic policy adviser Liu He, according to the report.

The upcoming convention, which is set to be attended by the top 400 officials of the ruling party, precedes the next annual meetings of China's legislature, the National People's Congress, starting on March 5.