What’s new: Citigroup Inc. has appointed Yu Xiangrong as its China chief economist, the U.S. banking giant announced on Thursday.
Yu will oversee Citigroup’s research on China’s economy and policy, the company said in a press release. He will report to Johanna Chua, head of Asia-Pacific economics.
Prior to this appointment, he was the company’s deputy head of China economics, researching issues including decarbonization, demographics and the Greater Bay Area.
The background: Yu has 15 years of experience in economics research, according to Citigroup.
Before joining the company in 2017, Yu served as an economist at investment bank China International Capital Corp. Ltd. and the Hong Kong Monetary Authority, Hong Kong’s central bank.
He obtained a PhD in economics from the University of Wisconsin-Madison in the U.S., after earning his master’s and bachelor’s degrees in economics from Peking University.
Yu’s predecessor, Liu Ligang, is now Asia Pacific head of economic analysis for Citi Global Wealth Management, Citigroup said.
Related: Citigroup Exits Consumer Banking in China as Part of Global Pullback
Contact reporter Zhang Yukun (yukunzhang@caixin.com) and editor Bertrand Teo (bertrandteo@caixin.com)
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