China named new leading roles for economic reform

China’s National People’s Congress has named Yi Gang as the new governor of its central bank the People’s Bank of China. Yi is to take over the work from his predecessor Zhou Xiaochuan, who has been serving in that position for 15 years. With a slowdown in China’s economic growth and focus shifting to the quality of growth, Yi is going to deal with the challenges in a brand new era. How will he carry out prudent monetary policy? How will he manage the financial risks China is facing? And after more than one year since the renminbi was authorized to be included in the Special Drawing Right (SDR), how will he continue to approach the goal of renminbi internationalization?

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(Source: CGTN,