China Appoints Lu Lei as Deputy Central Bank Governor

China has appointed Lu Lei, a veteran financial regulator, as the deputy governor of the People’s Bank of China, in the latest reshuffle at the central bank.

Lu, 53, replaces Liu Guoqiang, a deputy governor of PBOC since 2018, according to a statement from the Ministry of Human Resources and Social Security. Liu has reached retirement age.

Lu steps down as deputy administrator of the State Administration of Foreign Exchange (SAFE), a post he has held since 2017, according to the human resources ministry. Lu served previously as director of the PBOC’s financial stability bureau and research bureau.