Premier Li Keqiang, an economist, will be No. 2 man in China BEIJING, March 15 (UPI) -- Li Keqiang, 58, an economist, Friday became Chinese premier, succeeding outgoing Wen Jiabao. His nomination was approved by the National People's Congress, Xinhua News Agency reported. Li's elevation to premier came a day after Xi Jinping took over as China's president, succeeding Hu Jintao. The appointments of Xi and Li completed the once-in-a-decade leadership change in the Communist country, which began last November at the Communist Party annual congress. Li, who was born in Anhui province, joined the Communist Party in 1976 after graduating from Peking University with degrees in economics and law. He was appointed vice premier in 2008 and last November he was re-elected to the powerful Politburo Standing Committee. The BBC said as premier, Li must tackle a large portfolio of domestic affairs, economic challenges, environmental woes and China's urbanization drive. U.S. Secretary of State John Kerry and Treasury Secretary Jacob Lew have planned visits to Beijing as the new Chinese administration takes over.