Medvedev, 53, was nominated by Vladimir Putin to again serve as his PM, thus continuing with the tandem that has ruled Russian Federation for the past decade, although the office of the presidency is by far the most powerful of the two.
Dmitry Medvedev, 52, chaired the Russian government for the duration of Putin's previous presidential term, from 2012.
The choice is also likely to be parsed by Kremlin-watchers for any clues about what happens after Putin's current term ends in 2024.
Li said he is looking forward to working with Medvedev to make new contributions to enhancing the bilateral ties and promoting cooperation in various fields.
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Unveiling his nominees for the top posts in the new Cabinet, Medvedev stuck mostly with familiar faces, including retaining Anton Siluanov as finance minister.
He already named several candidates for deputy positions at a Monday meeting with leaders of the parliamentary majority party United Russia. The former sports minister and deputy PM in charge of sports issues, Vitaly Mutko, will oversee the construction sector and regional policies.
"Initially, when we designed the program that was declared in yesterday's decree, we proceeded from the need to find additional 10 trillion rubles, maybe even a little more", Putin said.
Putin was inaugurated for his fourth term as president two months after more than 70% of voters backed him in a presidential election in which he had no serious challengers.