Since the 1990s, China's top leaders serve a maximum of two five-year terms. With the last batch of leaders having reached the end of their second term last year, there has been a transition to the 'fifth generation' of leaders since the Chinese Communist Party came to power in Peoples Republic of China in 1949. The party has selected government leaders that will rule China for the next ten years. The appointments include Xi Jinping as President, Li Keqiang as Premier, Li Yuanchao as Vice President, Wang Yi as Foreign Minister, and Ms Liu Yandong as vice premier ( only woman for top position in the government). Zhou Xiaochuan was retained as Governor of the People's Bank of China, another big position in China given the size and importance of economy in the country.