Once seen as a potential Communist Party leader, Li’s influence waned in recent years as President Xi Jinping consolidated power and favored a more statist approach to China’s economy. Despite being an advocate for a more liberal market economy, Li had to adapt to Xi’s preference for greater state control. He suffered a sudden heart attack while resting in Shanghai and passed away on October 27, 2023. Li served as Premier and head of China’s cabinet for a decade before retiring in March. He emphasized China’s commitment to economic openness in his final public appearance. Born in a modest background in Anhui province, Li gained attention in 2020 for highlighting income inequality, noting that 600 million Chinese earned less than $140 per month.