Chart of the Day: Finance Veterans in Government
China has put 11 finance industry veterans and officials in posts at the level equivalent to provincial vice governor.
Some of the officials had worked for regulatory agencies such as the People’s Bank of China (PBOC) and the China Securities Regulatory Commission (CSRC). Others had worked for the “Big Five” state-owned commercial banks: Bank of China Ltd., Industrial and Commercial Bank of China Ltd., Agricultural Bank of China Ltd., China Construction Bank Corp., and Bank of Communications Co. Ltd.
Shuffling financiers between central and local governments, as well as state-owned financial institutions, has become an increasingly popular tactic to grease the wheels of policy coordination and help them get a sense of the financial sector on the ground.
In 2007, Tu Guangshao, then vice chairman of the CSRC, was appointed as a vice mayor of the Shanghai municipal government. In 2016, he moved to China Investment Corp., the country’s sovereign wealth fund, where he took over as president.
Also in 2016, Zhu Hexin, then a vice president of Bank of China, was appointed a vice governor of Southwest China’s Sichuan province. Two years later, he was tapped to serve as a deputy governor of the PBOC.
Contact reporter Timmy Shen (email@example.com, Twitter: @timmyhmshen)
Jul 23 08:14 PM
Jul 23 06:25 PM
Jul 23 02:46 PM
Jul 22 07:00 PM
Jul 22 05:51 PM
Jul 22 04:59 PM
Jul 21 06:36 PM
Jul 21 05:33 PM
Jul 21 03:48 PM
Jul 20 08:43 PM
Jul 20 07:06 PM
Jul 20 05:27 PM
Jul 20 05:15 PM
Jul 19 08:00 PM
Jul 19 06:35 PM
- 1Japan Government Pension Fund Copycat Bucks Trend to Invest in China Debt
- 2Cover Story: The Rocky Path Facing Chinese Companies Tapping U.S. Markets
- 3Tsinghua Unigroup’s Bankruptcy Restructuring Sets Back China’s Chip Dreams
- 4China’s Steel Industry Braces for Curbs Under Forthcoming Carbon Neutrality Plan
- 5China’s Heavy Industry Faces Profit Pressures From EU Carbon Border Tax, Analysts Say
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas