China finance minister &, PBOC Governor to both stay on, an unexpected continuity signal

On Sunday China's new 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.

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.

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.

People's Bank of China Governor Yi Gang has overseen relatively stable inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term in China.