Harvard-educated Liu, 66, was the most prominent envoy to visit Washington recently to prevent the outbreak of a trade war. While most of the personnel changes on the government’s economic team were widely anticipated, the choice of Yi Gang as the new head of the People’s Bank of China (PBOC) was unexpected. Yi is a vice governor of PBOC and a protege of outgoing chief Zhou Xiaochuan. The head of a newly merged banking and insurance regulator is also expected to be announced on Monday. Reform-minded Guo Shuqing, 61, the current chair of the China Banking Regulatory Commission, is viewed as the leading candidate.

Source: Sunday Times March 19, 2018 06:56 UTC