Mr. Guo faces an immediate challenge in reasserting the authority of the banking commission, also known as the C.B.R.C. “It’s probably a signal for fundamental reforms in China’s financial regulatory framework,” said Zhu Ning, a Tsinghua University economist. Mr. Guo could be in a good position to argue that the China Banking Regulatory Commission should have greater authority. Vice premiers are much more important in China than the governor of the central bank, because the central bank has no political independence in China and answers to the cabinet. Time may be running out for Mr. Guo, who will turn 61 this year.

Source: New York Times February 24, 2017 08:14 UTC