BARELY six months after Vice-Premier Zhu Rongji took up the post of central bank governor in July 1993, rumours were circulating that he would give up the position.
'Since we implemented macro-controls over the economy, the post of People's Bank of China has become extremely unpopular,' he said at the time.
'As not many people are willing to be the governor, I will have to continue at my post.' Now Mr Zhu is about to resign from the bank, but is not stepping out of politics.
He will retain his position as executive vice-premier of the State Council, and the bank governorship will become another line on a resume detailing decades of public service.
Mr Zhu stepped in as governor of the People's Bank of China at the behest of patriarch Deng Xiaoping to clamp down on high inflation and excessive speculation which had gathered strength under his predecessor Li Guixian.
He unveiled a 16-point austerity programme to tighten credit, announced 'Ten Bans' on bank activities and ordered 10 inspection teams to 20 provinces.