Harvard-Trained Former PBOC Deputy Governor Appointed Beijing Mayor

What’s new: Beijing’s Communist Party deputy chief and acting mayor Yin Yong was named mayor of the capital on Thursday, in a shake-up of municipal leadership.

The 16th Beijing Municipal People’s Congress, the city’s legislature, elected Yin as mayor and eight others as vice mayors at its first session, which ended Thursday, the state-run Xinhua News Agency reported.

The background: Yin’s promotion came nearly three months after he was appointed to the additional post of acting mayor of Beijing, when he was already vice mayor.