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.

To contact Bloomberg News staff for this story: Heng Xie in Beijing at hxie34@bloomberg.net, Haze Fan in Beijing at hfan40@bloomberg.net, Keith Zhai in Singapore at qzhai4@bloomberg.net.

©2018 Bloomberg L.P.

With assistance from Heng Xie, Haze Fan, Keith Zhai