Former top political adviser Jia Qinglin (right) congratulates his successor Yu Zhengsheng, who was elected chairman of the 12th National Commission of the Chinese People's Political Consultative Conference on Monday. [Zou Hong / China Daily]

The top political advisory body elected a smaller but more diversified new generation of leaders on Monday to guide its development for the next five years.

Yu Zhengsheng, born in April 1945, was elected to lead the National Committee of the Chinese People's Political Consultative Conference.

Another 23 vice-chairpersons were elected at the plenary meeting of the first session of the 12th CPPCC National Committee, two fewer than five years ago for the 11th CPPCC National Committee.

Notably, two influential financial figures — Zhou Xiaochuan, governor of the People's Bank of China, and Chen Yuan, chairman of the China Development Bank — are among the newly elected vice-chairpersons. No members of the previous leadership of the CPPCC National Committee had a comparable background.

Other vice-chairpersons include representatives of eight non-Communist parties, leaders of some Communist Party of China central departments and provincial committees, former chief executives of special administrative regions and leaders of ethnic autonomous regions.

CPPCC members said a more concise leadership is in line with the call for fewer leaders, and two new vice-chairmen with a financial background may help the political advisory body offer more detailed advice for the country's economic development.

"The downsizing of the CPPCC leadership is a positive response to the call by the CPC for fewer leaders and greater efficiency," said Huang Changyuan, vice-chairman of the Xinjiang committee of the CPPCC.

The CPC's top decision-making body — the Standing Committee of the Political Bureau of the CPC Central Committee — was trimmed to seven members from nine in November.

Sun Taili, a CPPCC National Committee member and president of Qingda Group, a private investment company in Tianjin, said he felt excited that two influential financial figures had joined the body's leadership.

"Financial reform is crucial for the success of China's reform," he said. "I believe they can give and inspire high-quality proposals for financial reform and promote a fair environment for small and medium-sized companies."

Yang Yuanqing, chairman and CEO of the world's major PC maker, Lenovo Group, also said it's great to see more financial experts become top CPPCC leaders as the economy is crucial to State affairs.

Yang said he expects the body's new leadership can give more advice to the government to maintain stable economic growth and boost domestic demand.

The CPPCC serves as a key mechanism for multiparty cooperation and political consultation under the leadership of the Communist Party of China and is a major symbol of socialist democracy.

Yu, the newly elected chairman of the CPPCC National Committee, was elected to the Party's seven-member top decision-making body in November.

"The new leadership (of the CPPCC) shows great diversity in their ages, academic background and walks of life," said Alsuyara, a Uygur member of the National Committee of the CPPCC.

"I hope the new leadership, with Yu as chairman, can carry on the good practices of their predecessors and make the CPPCC a better platform for socialist democratic consultation, a hub for good ideas, and get more firsthand information (on major issues) via in-depth research at the grassroots level," she said.

The first session of the 12th CPPCC National Committee is scheduled to close on Tuesday.

But the country's leadership transfer will continue as the top legislature — the National People's Congress — is expected to elect the country's new president, vice-president, cabinet, top judge and procurator this week.