TEHRAN, March 19 -Liu He, a key economic adviser to China’s President Xi Jinping, was elected by parliament to be a vice premier, while vice central bank governor Yi Gang was chosen to take over the helm at the People’s Bank of China (PBOC).
TEHRAN,Young Journalists Club (YJC) -Liu He, a key economic adviser to China’s President Xi Jinping, was elected by parliament to be a vice premier, while vice central bank governor Yi Gang was chosen to take over the helm at the People’s Bank of China (PBOC).
Liu He, a key economic adviser to China’s President Xi Jinping, was elected by parliament to be a vice premier, while vice central bank governor Yi Gang was chosen to take over the helm at the People’s Bank of China (PBOC).
Liu, who speaks fluent English, gained a master’s degree in public administration at Harvard’s Kennedy School of Government in 1995.
He had been the head of the General Office of the ruling Communist Party’s Central Leading Group for Financial and Economic Affairs and a vice minister of the National Development and Reform Commission (NDRC) - China’s top economic planner.
Beijing is merging its banking and insurance regulators to better manage its battle against financial risks, giving new powers to policymaking bodies such as the central bank, and creating new ministries as Xi begins his second five-year term as president.
U.S.-educated Yi Gang, 60, a protege of outgoing PBOC chief Zhou Xiaochuan, has been vice PBOC governor since 2008. He is seen as instrumental in steering monetary and currency policy, including the landmark devaluation of the yuan in 2015.
Yi’s appointment is likely to be viewed as a sign of continuity in PBOC’s policies as policymakers try to rein in rein in risks from an increasingly complex financial system without jolting markets or hurting economic growth.
Source:Reuters
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