Friday, Aug 22, 2014Friday, Aug 22, 2014
News
 

China central bank chief set to keep job in reshuffle: Sources

Published on Feb 20, 2013 4:56 PM
 
China's central bank governor Zhou Xiaochuan is set to keep his job next month despite reaching the mandatory retirement age of 65, sources said, in a bid by Beijing's new leaders to maintain the momentum of financial reform. -- FILE PHOTO: BLOOMBERG

BEIJING (REUTERS) - China's central bank governor Zhou Xiaochuan is set to keep his job next month despite reaching the mandatory retirement age of 65, sources said, in a bid by Beijing's new leaders to maintain the momentum of financial reform.

Two sources with ties to China's Communist Party leadership and two senior financial industry sources said that, barring last-minute changes, Mr Zhou, would be made a vice chairman of parliament's top advisory body to give him "national-level leader" rank that would exempt him from compulsory retirement.

Mr Zhou's future has been in question since he was left out of the elite 205-member Central Committee of the Communist Party during a once-in-a-decade handover of power last November.

Until now, membership has been a condition of holding a ministerial-level job such as the People's Bank of China (PBOC) governor.

 
If you are not a subscriber, you can get instant, unlimited access here