Analysts say Pan Gongsheng’s many years of experience at the People’s Bank of China give him a critically important vantage point from which to tackle financial risks and shore up economic growth.
Authorities use down-to-Earth language to ease minds and shore up markets at a time when the economy is sputtering and the yuan has again dropped below the key psychological point of 7.0 against the US dollar.
The People’s Bank of China’s Yi Gang and his analyses on hot-button issues featured prominently in an article for the Journal of Economic Research ahead of his expected retirement.
People’s Bank of China Governor Yi Gang also said the bank will seek to guide monetary policy so that real interest rates move slightly below the potential growth rate.
People’s Bank of China Governor Yi Gang addresses finance ministers in Washington in first trip to US capitol by a senior Chinese economic official since pandemic.
Lu Lei, deputy head of the State Administration of Foreign Exchange, says technology like ChatGPT, an AI chatbot, could be used to study financial issues and inform monetary policy.
Since being appointed central bank governor in 2018, US-educated Yi Gang has led financial reforms and a debt reduction campaign, while maintaining a prudent monetary stance.
Central bank deputy governor Pan Gongsheng said that as China’s economy recovers and the interest rate differential with the US stabilises, the yuan’s role as a safe-haven asset will become more prominent.
The virtual presence of top regulators at the Global Financial Leaders’ Investment Summit echoes President Xi Jinping’s recent promise of ‘full support for Hong Kong to develop its economy’.
China’s Premier Li Keqiang Beijing has said companies are facing more difficulties than during the initial coronavirus outbreak in 2020 and pledged to unveil additional support policies this month.
China sent high-ranking officials, including central bank governor Yi Gang and several cabinet ministers, across the country to supervise implementation of stimulus policies.
Global inflation is soaring, reaching a 40-year high in the US, thanks to sky-high food and energy prices that have been exacerbated by the war in Ukraine. Why is it a different story in China?
Technology firms offering financial services should be licensed and must adopt the ‘same business, same rules’ approach, according to the top banker at the People’s Bank of China.
PBOC governor Yi Gang said there needs to be more international cooperation on regulating fintech, particularly regarding the ownership of consumer data.
Deputy governor of China’s central bank says it is ‘too early’ to call it a global financial crisis.
Central bank governor Yi Gang said in an article that inflation targets of ‘3 or 4 per cent’ were appropriate for developing countries, signalling China’s may be raised in 2020.
‘We should not let the money held by the Chinese people become worthless,’ People’s Bank of China governor Yi Gang says.
The US Federal Reserve is expected to cut its interest next week, but People’s Bank of China chief Yi Gang says that Beijing does not always follow its American counterpart.
Yi Gang, governor of the People’s Bank of China, said at an event in Helsinki that the world’s two largest economies can solve their problems ‘one by one’.
US Treasury Secretary Steven Mnuchin puts ball back in Beijing’s court, saying Washington prepared to ‘move forward’ as long as China accepts its terms.
People’s Bank of China governor Yi Gang says Beijing will not devalue yuan to boost exports or ease trade tensions amid the US-China trade war.
Central bank governor Guido Sandleris says the two sides ‘have reached a consensus’ on the deal, days after the IMF approved a US$56 billion loans package to help the nation stabilise its battered economy.
There’s a favourite, a possible and an outsider, but all have the same mission in mind: to finish ongoing reforms on interest and exchange rates, while maintaining China’s stability and adoption of a bigger global role.