Dai Xianglong leaves People's Bank of China

China has replaced its longtime central bank governor, putting a former stock market regulator in charge as it prepares to open its banking industry to foreign competition.

Dai Xianglong, who headed the People's Bank of China for eight years, will be succeeded by Zhou Xiaochuan, former chairman of the China Securities Regulatory Commission.

Dai is taking up a post as acting mayor in Tianjin, a major port city east of Beijing.

Shang Fulin, 51, president of China's state-owned Agricultural Bank of

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.