Premier Li Qiang nominated Yi Gang to remain governor of the People’s Bank of China (PBOC) and Liu Kun to stay on as finance minister.</p><p>This is being interepreted as President Xi Jinping opting for a measure of continuity in key economic policymaking posts. Yi was appointed as PBOC governor in 2018 but had been had been widely expected to retire after being left off the ruling Communist Party’s Central Committee during the party’s once-in-five-years congress in October.</p><p>China’s parliament, the National People’s Congress, will vote to approve the nominations on Sunday, a rubber-stamp process. UPDATE – the vote has taken place, all confirmed. </p><p>People’s Bank of China Governor Yi Gang has overseen relatively stable <a target=“_blank“ href=“https://www.forexlive.com/terms/i/inflation/“ class=“terms__main-term“ id=“ad51a5a2-1afc-4f42-9e62-ea6faf6f90fa“ target=“_blank“>inflation</a> in China. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.