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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