Bank of China chief to head watchdog


  • Business
  • Saturday, 04 Jan 2003

BEIJING: Bank of China president Liu Mingkang will step down to take charge of a new banking regulatory body expected to be split off from the central bank later this year, according to banking and government sources. 

Top government officials were likely to hold a key financial meeting this month to discuss the reform plan, said the sources, who all requested anonymity. 

“President Liu will leave Bank of China and he is likely to be promoted,” said an official at the bank, which is China’s biggest foreign exchange bank. 

The move would be the latest in a sweeping reshuffle that kicked off at the Chinese Communist Party's 16th congress in November, when President and party chief Jiang Zemin and other older leaders yielded their party positions to a younger generation of leaders. Jiang and the other leaders are due to retire from their government posts at a parliament session in March, completing the leadership transition. 

The reshuffle is now working its way through the ministries and other agencies, including the central bank. – Reuters  

For more business news click here

 

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Next In Business News

Genting prices US$1bil senior unsecured notes
IMF offers rosier view on Asia, warns of Fed fallout on markets
MMHE bags SapuraOMV Jerun contract�
BIMB raises RM795.6mil via private placement
Grab agrees world's biggest SPAC merger, valued at US$40bil
Bank Negara adds two companies to money services business alert list
Top Glove’s billionaire founder buys stake in education firm
FBM KLCI breaks below 1,600-mark
Bitcoin hits record high of US$62,575
Perodua launches Aruz in Singapore, priced at RM286,409

Stories You'll Enjoy


Vouchers