Reports: PBOC Considers Replacing Governor

Chinese President Xi Jinping may replace People’s Bank of China (PBOC) Governor Zhou Xiaochuan as part of a wider personnel reshuffling following internal battles about overhauling the economy, according to The Wall Street Journal.

The top contender to replace the central bank governor is Guo Shuqing, a former banker and securities regulator who is currently governor of the eastern Shandong province, the paper said citing officials with knowledge of the plan.  However, no final decision has been made, it said.

In a statement to The Wall Street Journal, Zhou, who has led the PBOC since 2002, said that he would not be stepping down soon.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.