People’s Bank of China Names Two New Deputy Governors

China’s central bank is experiencing some senior executive shuffles. The People’s Bank of China named two new deputy governors. Guo Qingping was internally promoted from assistant governor to deputy governor. The People’s Bank of China hired Fan Yifei who comes from sovereign wealth fund China Investment Corporation (CIC) where he was an executive. At one time, Fan was chairman of the Bank of Shanghai. The Communist Party of China’s organization department selects senior people for senior positions at the central bank.

Leaving the People’s Bank of China is Deputy Governor Hu Xiaolian who was appointed new chairman of Export-Import Bank of China. Hu was head of the bank’s Shanghai branch. The other move was Deputy Governor Liu Shiyu who left the central bank to become chairman of Agricultural Bank of China Ltd.

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