China names reformist Guo Shuqing as central bank's Communist Party chief and vice governor

FILE PHOTO: Guo Shuqing, China's newly appointed banking regulator, attends a news conference ahead of China's parliament in Beijing, March 2, 2017. To match Special Report CHINA-RISK/SHADOW BANKING REUTERS/Shu Zhang/File Photo

BEIJING (Reuters) - Guo Shuqing, head of China's new regulator for the banking and insurance sectors, has been appointed the Communist Party chief and deputy governor of the People's Bank of China (PBOC), official publication Financial News reported on Monday.

As the party chief of PBOC, Guo will exert the widest influence at one of the world's most powerful central banks, which unlike its peers in some countries is not fully independent. Its decision-making is broadly subject to the political influence of the Communist Party and the government.