China’s National People’s Congress (NPC, equivalent to the National Assembly) held a plenary session on the 12th and decided to retain several economic ministers, including the governor of the People’s Bank of China (central bank) Yi Gang.
People’s Bank of China Governor Yi Gang
Photographer: Qilai Shen/Bloomberg
According to the list submitted to the National People’s Congress on the 12th, in addition to President Yi Gang (65), Finance Minister Liu Kun and Commerce Minister Wang Wentao will also retain their posts.
He Lifeng, 68, a long-time aide to President Xi Jinping and chairman of the National Development and Reform Commission, was appointed vice premier. He was replaced by Zheng Zhaojie, who was the head of Anhui province.
President Yi was expected to step down as cabinet ministers had reached the retirement age. But on the 11th, Yi was appointed to the Standing Committee of the Chinese People’s Political Consultative Conference, allowing him to remain in office even following reaching retirement age.
news-rsf-original-reference paywall">Original title:China Retains Yi as Central Bank Governor in Surprise Move (1)(excerpt)