China appoints two new PBoC policy members

Cai Fang
Cai Fang
World Economic Forum / Sikarin Thanachaiary

China has appointed two new members to the central bank’s monetary policy committee, replacing two of the three external experts on the 14-person panel.

The appointments were made as the People’s Bank of China (PBoC) strives to balance the need to support economic growth against rising risks in the financial system. China’s overall debt to GDP ratio rose 24 percentage points to 270% in 2020, the fastest pace since 2009, according to the Chinese Academy of Social Sciences, a government-led

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