Friday, September 29, 2023
HomeEconomyChina appoints forex watchdog Pan Gongsheng as central bank party secretary

China appoints forex watchdog Pan Gongsheng as central bank party secretary

(Reuters) – China’s ruling Communist Party on Saturday named central bank vice-governor Pan Gongsheng as central bank party secretary, a move the Wall Street Journal said would be a prelude to the presidency.

The People’s Bank of China said in a statement on its website that the Communist Party’s Central Organization Department announced the decision at a meeting Saturday afternoon.

WSJ It was reported hours ago that Pan, selected for his international background, would be appointed to a party position before being appointed by the government as PBOC governor.

PBOC did not immediately reply to Zhou 6 Faxed by Reuters seeking comment.

Pan’s appointment comes amid rising expectations for the authorities, who will take office this month 19. Taken The measures boosted the world’s second-largest economy, where a slowdown is deepening and spreading as economic activity flares up after strict COVID-19 19 containment measures faded.

The central bank said on Friday that it will implement a “precise and forceful” prudent monetary policy to support economic growth and employment.

Pan has extensive China experience Banking and policy. According to information on the website of the State Administration of Foreign Exchange, he has been serving as the deputy governor of the People’s Bank of China since .

The current governor, Yi Gang, has since stepped down , he is widely expected to retire. The ruling Communist Party Central Committee at the five-yearly party congress in October.



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