Pan Gongsheng Named as China’s New Central Bank Governor

Pan Gongsheng Named as China’s New Central Bank Governor

Daily Current Affairs   /   Pan Gongsheng Named as China’s New Central Bank Governor

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Category : Appointment/Resignation Published on: July 29 2023

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  • Pan Gongsheng was named China's central bank governor on July 25 in the widely anticipated final major appointment of the ruling Communist Party's once-a-decade change of power.
  • Pan Gongsheng, a deputy governor of the central bank and a seasoned expert in China's government banking sector, assumed the position, succeeding Yi Gang, an American-trained economist who served in the role for five years.
  • The Governor of the People's Bank of China, Pan Gongsheng, holds a preeminent position within Chinese finance circles, as the bank is under the control of the ruling Communist Party.
  • Previously, in 2015, Pan was appointed as the head of China's foreign exchange regulator. 
  • Prior to that, he held the position of vice-chairman at Agricultural Bank of China Limited, one of the country's four major commercial lenders.
  • In August 1905, the first National Bank of China, known as the Treasure Bank, was founded in Beijing.
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