Policy Lender Executive Made Vice Governor of Jiangsu Province
What’s new: Ma Xin, a vice president of China Development Bank (CDB), the top policy lender in China, is set to be appointed as a vice governor of East China’s Jiangsu province, sources with knowledge of the matter told Caixin.
Ma is the latest in a string of finance industry veterans to be appointed to senior provincial government roles in recent years.
According to a state media report (link in Chinese), Ma attended a Tuesday meeting of the ruling Communist Party’s Jiangsu provincial committee.
Background: Ma was appointed to work in the Jiangsu provincial government after one of its deputy governors Wang Jiang was named president of Bank of China Ltd. in December last year.
Shuffling finance veterans between central and local governments, as well as state-owned financial institutions, has become common in recent years as part of efforts to help them both understand the on-the-ground reality of the financial sector as well as give them experience in dealing with local financial risks.
Quick Takes are condensed versions of China-related stories for fast news you can use. To read the full Caixin article in Chinese, click here.
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