Zhou Xuedong, a senior official of the Chinese central bank, has joined China Development Bank, the country’s biggest policy lender, as vice-president.

Chinese officials are often rotated through roles at banks on their way to more senior positions, so the move may be a sign Zhou is rising through the ranks. The appointment was reported by state-backed media outlet The Paper.

Zhou, 53, has held various posts at the People’s Bank of China (PBoC) during his 12 years there, including head of