Fan Gang to join PBOC committee

China's Cabinet said Friday 11 August it had appointed economist Fan Gang to the People's Bank of China's monetary policy committee, an advisory body to the central bank.

The move is unlikely to affect the direction of the country's monetary or foreign exchange policy, press reports said.

Fan Gang replaces Yu Yongding as the academic member on the 13-member monetary policy committee. Yu's term expired in July.

The advisory body is headed by PBOC governor Zhou Xiaochuan.