Yi Gang the new chief to China’s central bank

According to the SCMP, Yi takes over from Zhou Xiaochuan, who has held the role for more than 15 years. Yi Gang was confirmed in the role at the National People’s Congress in Beijing. “I feel peaceful and solemn now as the mission is holy and glorious,” Yi told journalists after his appointment was announced.

 

Yi said he would keep following “prudent” monetary policy in China, promote financial reform and opening, plus maintain financial stability. The new central bank governor added that Beijing would announce a slew of new “reform and opening” policies from now to the Boao Forum for Asia in early April, an event known as Asia’s Davos. Chinese President Xi Jinping will attend this year.

 

Yi will replace Zhou Xiaochuan who has headed the central bank for more than 15 years. Han Zheng, Sun Chunlan and Hu Chunhua were named as vice-premiers. President Xi Jinping’s right-hand man and main economic adviser, Liu He, has also been given the same title.

 

The annual legislative meeting also confirmed the appointments of Liu Kun as finance minister.

 

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