Pan Gongsheng Appointed as China's New Central Bank Governor to Prioritize Safety
TL;DR Summary
Pan Gongsheng, who previously oversaw China's $3 trillion in foreign currency reserves, has been named the governor of the People's Bank of China. This appointment comes at a critical time for China as its economic recovery falters, its banking system faces bad loans, and its currency weakens. Pan's previous experience in stabilizing the renminbi during a currency plunge in 2016 may prove valuable in his new role. However, his lack of political backing within the Communist Party may pose challenges.
Topics:business#chinese-economy#currency-stabilization#finance#foreign-currency-reserves#pan-gongsheng#peoples-bank-of-china
- Pan Gongsheng Named Head of Chinese Central Bank The New York Times
- China Names Pan Gongsheng as New Central Bank Governor to Revive Economy Bloomberg
- China names new central bank governor as twice-a-decade finance conference nears South China Morning Post
- China names Pan Gongsheng to lead central bank, succeeding Yi Gang The Washington Post
- Safety first in China under new central bank governor Reuters
- View Full Coverage on Google News
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