China appointed a new finance minister on Monday who is expected to maintain an expansionary fiscal policy and push reforms to put a lid on rising debt levels in the economy.
Xiao Jie, a former tax chief and Minister of Finance deputy minister, was named minister of finance, the official Xinhua new agency said on Monday.
Xiao, 59, who is currently deputy secretary general of the State Council, replaces Lou Jiwei, who had served as finance minister since March 2013.
This article 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 Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.