Western-trained banker to head China’s central bank

News Snapshot:

Seoul | China has tapped a western-trained risk firefighter to lead the country’s central bank, a move that is expected to provide some market certainty as Xi Jinping overhauls oversight of the financial sector. The People’s Bank of China announced on Saturday that Pan Gongsheng had been appointed to the role of Communist party chief at the bank, replacing Guo Shuqing. Pan Gongsheng is a familiar name in the international finance sector, having served as deputy governor of the PBoC since 2012. Reuters The party chief is the most powerful political position at the bank and can hold more sway...