China picks Yi Gang to lead PBoC

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Yi Gang

China has named long-serving deputy governor Yi Gang as the new head of the People’s Bank of China, paving the way for greater renminbi internationalisation and interest rate liberalisation.

The National People’s Congress, the country’s rubber-stamp legislature, voted on Monday (March 19) to approve the new central bank chief together with other ministers, according to China’s official news agency Xinhua.

Another individual touted as a top contender for the role, Liu He, economic adviser to

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