China names Pan as new central bank party chief, sets stage for governor change

Pan Gonsheng is a deputy governor at the central bank with extensive experience in commercial banking. - Reuters

BEIJING (Bloomberg): China named Pan Gongsheng as the central bank’s new Communist Party chief, putting him in line to be the next governor.

The decision was made at a People’s Bank of China meeting of top cadres on Saturday, the central bank said in a statement. Pan, 59, is a deputy governor at the central bank with extensive experience in commercial banking.