What’s new: The People’s Bank of China (PBOC) has added four new faces to its monetary policy advisory body, including the new chief of the country’s top securities regulator and a deputy governor of the central bank, according to an updated list of members published Tuesday.
Wu Qing, who succeeded Yi Huiman as China Securities Regulatory Commission (CSRC) chairman in February, took Yi’s spot on the PBOC’s Monetary Policy Committee. Meanwhile, PBOC Deputy Governor Xuan Changneng replaced Liu Guoqiang, who stepped down from his deputy governor role in December.
The two other new members of the committee are Huang Yiping, dean of the National School of Development at Peking University, and Huang Haizhou, a professor at the Tsinghua University PBC School of Finance.
The background: Established in 1997, the Monetary Policy Committee advises the central bank on monetary policy decisions, the use of policy tools, the coordination between monetary and other macroeconomic policies, and other policy matters.
The 14-member body includes the PBOC governor and two deputy governors, CSRC chairman, a vice finance minister, National Financial Regulatory Administration minister, National Bureau of Statistics commissioner, State Administration of Foreign Exchange administrator, and China Banking Association chairman.
The other required members are a deputy secretary-general of the State Council, China’s cabinet, a vice chair of top economic planning agency the National Development and Reform Commission, and three academics.
Contact reporter Zhang Yukun (yukunzhang@caixin.com) and editor Jonathan Breen (jonathanbreen@caixin.com)
