Zhou Xiaochuan: Central Bank Governor Who Modernized China’s Financial System

Zhou Xiaochuan, the face of China's financial system for 15 years, is expected to officially step down as governor of the People's Bank of China (PBOC) on Monday, having led the institution through momentous changes that transformed it from a bit-player to one of the most important central banks in the world.

His retirement is set to be announced days after the government released plans for a sweeping overhaul that will see the central bank gain considerable new regulatory powers over the financial system and its institutions in order to prevent and control financial risks.