China’s named deputy PBOC governor, head of FX regulator Pan Gongsheng as party secretary of central bank

 

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Pan Gongsheng, Deputy Governor of the People’s Bank of China and head of the State Administration of Foreign Exchange (SAFE), is named as the central bank’s party secretary, the Communist Party’s Central Organization Department announced the decision at a meeting on Saturday afternoon.

The appointment of Pan, who turns 60 this month, comes amid expectations the Chinese authorities will take steps to boost the world’s second-largest economy as the post- pandemic recovery loses steams.  

Pan 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.

The Wall Street Journal reported that China plans to appoint Pan Gongsheng as the central bank’s new governor.

Pan, a deputy governor of the People’s Bank of China, is likely to first be named as the bank’s Communist Party chief before becoming governor, which requires appointment by the state, the report said.