When global business leaders flocked to Beijing last month, their main goal was to secure a rare audience with Chinese President Xi Jinping. However, many left equally impressed by Vice Premier He Lifeng — the man increasingly steering China’s economic ship through turbulent waters.
As the world’s second-largest economy faces aggressive 145% tariffs from U.S. President Donald Trump, He Lifeng has quietly stepped into a critical role. A longtime ally of Xi, He now oversees China’s financial sector and foreign economic negotiations, positioning himself as a key figure in any potential trade talks with the U.S.
Initially underestimated by Western investors, He has evolved from a stiff bureaucrat into a confident and capable diplomat. Over the past year alone, he has held at least 60 meetings with foreign investors and diplomats, reflecting his growing presence on the international stage. Those familiar with his work say he has gained the trust of Western executives by delivering sophisticated analyses and following through on promises — a quality not all Chinese officials are known for.
Despite his progress, He is no reformer. A staunch supporter of China’s state-led growth model, he consistently defends Beijing’s export-heavy economic strategy and downplays concerns about overcapacity. Many experts believe He’s primary mission is to protect China’s trade surplus, critical to maintaining job growth at home.
If detailed negotiations between Beijing and Washington resume, He will play a vital role, alongside newly appointed chief trade negotiator Li Chenggang. Nevertheless, He’s ideological loyalty to Xi and focus on sustaining traditional economic policies suggest that major concessions will be unlikely.
He Lifeng’s career traces back to Fujian province, where he worked closely with Xi during their early days in local government. His reputation as a “demolisher” stems from his time in Tianjin, where he spearheaded massive urban redevelopment projects — often leaving cities with gleaming new infrastructure but soaring debt.
Some foreign executives, once unimpressed with He’s communication style, now note a shift. They describe his recent engagements as far more articulate and strategic, particularly as he advocates for domestic champions like AI startup Deepseek.
As the global economy braces for further shocks from Trump’s tariff escalation, He Lifeng has emerged from Xi’s shadow. He is now a central figure not only in China’s economic future but also in shaping the next chapter of U.S.-China relations.
Whether He’s newfound confidence will be enough to steer China through mounting external pressure remains to be seen. For now, the world is paying close attention — and so is Washington.
