New appointments to China's central bank monetary policy committee announced

22:10, March 29, 2010      

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The People's Bank of China, the central bank, announced Monday that three new members had been added to its monetary policy committee.

The announcement confirmed market talk about the appointments of Zhou Qiren, Xia Bin and Li Daokui after the expiry of Fan Gang's term.

However, the central bank did not give information such as when Fan Gang's term expired or when the three new members would take up their posts.

Zhou Qiren, born in 1950, is a professor with Peking University. Xia Bin, 59, is a researcher with the Development Research Center of the State Council (the Cabinet). Li Daokui, 45, is a financial professor with Tsinghua University.

Fan Gang, director of the Beijing-based National Economic Research Institute of China Reform Foundation, joined the committee in August 2006.

The appointments will bring the committee, headed by central bank governor Zhou Xiaochuan, to 15 members, including central bank vice governors Su Ning and Hu Xiaolian, Yi Gang, director of the State Administration of Foreign Exchange, and Liu Mingkang, chairman of China Banking Regulatory Commission.

According to central bank regulations, the term of membership for financial experts in the committee is two years.

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