China to appoint Yi Gang as new central bank governor: WSJ

SHANGHAI (Reuters) – China has selected American-trained economist Yi Gang to become the country’s new central bank governor, the Wall Street Journal (WSJ) reported on Sunday, citing unnamed people with knowledge of the matter.

The WSJ said the nomination of Yi, who is currently deputy to incumbent central bank governor Zhou Xiaochuan was reviewed by the nearly 3,000 delegates attending the National People’s Congress on Sunday afternoon.

It said his appointment to the top post at the People’s Bank of China was set to be approved when the legislature reconvenes on Monday morning.

Zhou, the country’s longest-serving central bank head, said in October that he was likely to retire soon and sources with ties to the leadership had told Reuters that he was likely to do so around the time of the annual session of parliament.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.