Yi Gang stays on as China’s central bank governor

Beijing’s surprise decision sends stabilising signal for the economy, analysts say

Yi Gang
Yi Gang
Photo: World Economic Forum

China reappointed Yi Gang as central bank governor in a surprise decision on March 12, though the veteran central banker is expected to lead a central bank with diminished powers.

The National People’s Congress (NPC) approved Yi’s re-appointment on March 12, during its nine-day annual session which ended today.

Finance minister Liu Kun and commerce minister Wang Wentao will also stay in their current posts.

Analysts had widely expected Yi to step down after the NPC annual session, pointing to

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