China to announce new PBOC Govenor by Mar 16

China’s national legislature will decide on government positions including central bank governor by March 16 amid reports Zhou Xiaochuan will remain chief of the People’s Bank of China.

The decisions on the nation’s president, vice president, premier, ministers and PBOC will occur during the final third of the sessions, Fu Ying, spokeswoman for the National People’s Congress, said today at a press briefing in Beijing, indicating the moves will come between March 13 and March 16.

Zhou will extend his record tenure as PBOC governor even after he was left off the Communist Party’s revamped Central Committee list, a person with direct knowledge of the discussions said last month. Retaining Zhou, 65, during the party’s once-a-decade leadership transition would provide stability at a time when the PBOC is grappling with rising risks from shadow banking and is changing how it conducts monetary policy.

The party’s omission of Zhou from its new 205-member Central Committee in November and a Feb. 2 profile by the official China Securities Journal that said he’d step down in March had suggested the governor, who took office in 2002, would leave as part of a once-a-decade leadership change.

Bloomberg

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