China Is Said to Name Guo Shuqing as New PBOC Party Chief

(Bloomberg) -- China named Guo Shuqing, the nation’s top bank and insurance regulator, as Communist Party secretary of the People’s Bank of China, according to people familiar with the matter.

The appointment was announced Monday at an internal meeting at the central bank, according to the people, who asked not to be identified because the gathering wasn’t public.

The move places Guo, 61, above newly-appointed PBOC Governor Yi Gang. The joint role would give Guo, who is already party chief of the new China Banking and Insurance Regulatory Commission, an even bigger role in setting financial and monetary policy.

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