BEIJING (Reuters) – China has appointed Zhang Qingsong as deputy governor of the People’s Bank of China (PBOC), the cabinet said on Tuesday, as part of a reshuffle of the bank’s leadership ahead of a key Communist Party meeting.
Zhang, 57, former President of Agricultural Bank of China (OTC: ACGBF ), Vice President of the Bank of China, President of the Policy Bank of the Export-Import Bank of China.
Chen Yulu was removed from the position of Deputy Governor of the People’s Bank of China on January 2, 2019. Friday. Chen became president of Nankai University in the northern port city of Tianjin.
The People’s Bank of China (PBOC) now has four deputy governors – Pan Gongsheng, Fan Yifei, Liu Guoqiang and Zhang Qingsong. Yi Gang has been the governor of the central bank since 2018.
Compared with Western central banks, the PBOC still has limited policy independence, despite its growing influence. The basic line of currency and monetary policy is set by the cabinet or the ruling Communist Party Politburo.
Five-year Congress in October to clear up changes in key government positions in 2023 the way.
(This 9/6 story corrects the spelling of Export- Import Bank of China in the second paragraph)