Chinese President Xi Jinping begins a third term in office with the country facing economic challenges.

The Communist Party selected seven members of its top leadership on Sunday. The new lineup is dominated by Xi's close aides, including subordinates who worked under him in the past.

The party also reshuffled its economic leadership.

Premier Li Keqiang, who was in charge of economic policy, was removed from the top decision-making body.

Vice Premier Liu He was also not included. As an economic expert, he was responsible for trade negotiations with the United States.

The two will be replaced when their terms expire at the National People's Congress next year.

Shanghai's top Communist Party official, Li Qiang, is likely to succeed Li Keqiang as the new premier. He oversaw the lockdown measures to contain the coronavirus infection.

The head of the National Development and Reform Commission, He Lifeng, is expected to replace Liu He as vice premier. He has served for many years in regional posts.

China is facing various challenges, ranging from a confrontation with the United States to its aging population with a low birthrate.

The country's economic recovery has been slowed by the government's "zero-COVID" policy and a sluggish real estate market.

The question now is how the new leadership team will overcome these challenges and get the country's economy back on track.