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China: State Council Appoints New Deputy Governor to Central Bank
Source: shanghaidaily.com
Source Date: Friday, June 15, 2012
Focus: Electronic and Mobile Government, Internet Governance
Country: China
Created: Jun 19, 2012

THE State Council appointed Pan Gongsheng as deputy governor of the People's Bank of China, the nation's central bank, Xinhua News reported today.

Pan, 48, the former vice president and executive director at Agricultural Bank of China Ltd, the nation's fourth-biggest lender, will replace Du Jinfu at the central bank. ABC announced Pan's resignation on June 8. He worked at Industrial and Commercial Bank of China, the world's biggest lender by market value, before joining ABC in 2005.

The central bank now has four deputy governors, Pan, Hu Xiaolian, Liu Shiyu, and Yi Gang, who is also head of the State Administration of Foreign Exchange.

Xiang Junbo, former chairman of ABC, became chairman of the China Insurance Regulatory Commission in October. At the same time, Guo Shuqing resigned from the world's second-biggest lender, China Construction Bank as chairman, and became chairman of the China Securities Regulatory Commission. The former chairman of the securities regulator, Shang Fulin, was appointed as chairman of the China Banking Regulatory Commission in the same month.
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