China's ruling Communist Party appointed central bank deputy governor Pan Gongsheng as the bank's party secretary on Saturday (Jul 1), a move the Wall Street Journal said would be a prelude to becoming governor. The party's Central Organization Department announced the decision at a meeting on Saturday aft
China's ruling Communist Party appointed central bank deputy governor Pan Gongsheng as the bank's party secretary on Saturday , a move the Wall Street Journal said would be a prelude to becoming governor.
The Journal reported hours earlier that Pan would be named to the party post before being appointed by the government to head the PBOC. The PBOC did not respond to a Reuters fax seeking comment. The central bank said on Friday it would implement prudent monetary policy in a"precise and forceful manner" to support economic growth and employment.Pan has deep experience with Chinese banks and policy. He did post-doctoral research at Cambridge University and was a senior research fellow at Harvard University, and has been the deputy governor of the PBOC since 2012, according to the SAFE and PBOC websites.
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