China appoint Yu Yongding to monetary policy board

The People's Bank of China has formally announced the appointment of Yu Yongding to its monetary policy committee to replace Li Yang as the only financial expert on the 13-member board, XFN-Asia reported.

Yu Yongding, who is 56, currently heads the world economics and politics institute at the Chinese Academy of Social Sciences. She said earlier this month in an article on the academy's website that an interest rate hike is necessary for a more efficient allocation of funds and to maintain eco

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