Date
22 September 2017
PBoC deputy governor Yi Gang is seen as a boon to financial reform and innovation in his new role in in a top-level economic think tank. Photo: Bloomberg
PBoC deputy governor Yi Gang is seen as a boon to financial reform and innovation in his new role in in a top-level economic think tank. Photo: Bloomberg

Yi Gang backs faster financial reform, innovation, website says

China’s central bank should maintain a stable monetary policy to promote healthy economic development at the local level, news portal sina.com reported Monday, citing a top official of the People’s Bank of China (PBoC).

Deputy governor Yi Gang, who also heads the State Administration of Foreign Exchange, also urged deeper reform of foreign exchange management during a meeting with financial and economic affairs officials in Fujian province.

In addition, Yi called for liberalization of interest rates, increased trading band for the renminbi and faster development of privately invested banks, the report said.

It was Yi’s first foray since being appointed deputy director of the Office of the Central Leading Group on Financial and Economic Affairs, a role seen as bolstering financial reform and innovation. 

– Contact HKEJ at [email protected]

EL/JP/RA

 

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