Chinese Vice Premier He Lifeng has been confirmed as the top official overseeing economic and financial policy as well as trade talks with the U.S. and Europe, according to a series of announcements.

He — a close confidante of President Xi Jinping — was described as the office director of the Central Financial Commission, which is responsible for the top-level policymaking and supervision of the country’s vast financial sector, according to a report by Financial News, a central bank-managed publication.

He was also named party Communist Party secretary of the Central Financial Work Commission, overseeing the ideological and political role of the party in the financial system.