China’s Xi Jinping’s drive for economic strengthening sees Pan Gongsheng named as central bank governor

News Snapshot:

Pan Gongsheng has been appointed as the new Communist Party chief of the People's Bank of China, making him the likely candidate to become the next governor. The decision was made at a meeting of top cadres at the central bank. Pan, 59, is currently serving as a deputy governor at the People's Bank of China and has a wealth of experience in the commercial banking sector, Bloomberg reported. He will be taking over from Guo Shuqing, who retired as the party chief. Additionally, Yi Gang, who was Guo's deputy and the central bank governor, also retired from his party...