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Yi Gang

The latest news on Yi Gang, Chinese economist and former governor of the People's Bank of China, including Chinese politics news.

Born

5 Mar 1958

Industry

Business

Job Title

Former Governor, People's Bank of China

The MQ-9 Reaper has been deployed as part of the US military’s surveillance network in the Indo-Pacific. Photo: Reuters

China's military weapons

Why the growing network of American MQ-9 drones is a challenge for China

Reapers can carry out both reconnaissance and strike missions and an increasing number of US allies and partners are buying them.

16 Feb 2026 - 10:00PM

US-China relations

US establishes new army foothold in Southeast Asia to ‘contain China’: analyst

12 Feb 2026 - 6:51PM

China’s military drills

PLA urged to find a way to operate effectively under the gaze of US and Japan

19 Jan 2026 - 6:00PMvideocam

China-Latin America relations

Will Beijing look to US capture of Nicolas Maduro for lessons on Taiwan?

Analysts say US operation should serve as warning to separatist forces in Taiwan following PLA drills targeting the island’s leadership.

4 Jan 2026 - 9:01PMvideocam

A firefighter walks past a destroyed anti-aircraft unit at La Carlota military base in Caracas following a US strike that captured Venezuelan leader Nicolas Maduro on Saturday. Photo: Reuters

China’s navy

US Navy aircraft crashes offer lessons for PLA carrier operations, analysts say

Chinese military could learn from rival’s strengths in search and rescue response, but also its weaknesses in maintenance and training.

2 Jan 2026 - 5:00PMvideocam

China's military weapons

Is China quietly preparing cargo ships to transform into military vessels?

Containers bear the words ‘plan for the maritime revival of the Chinese nation and the community of shared future for mankind in the ocean’.

26 Dec 2025 - 9:06PMvideocam

China’s Communist Party

China’s former central bank chief loses leadership role in top advisory body

Decision affecting Yi Gang and nine other former senior officials made amid Beijing’s continuing anti-corruption campaign.

3 Nov 2025 - 5:59PM

Yi Gang served as the governor of the People’s Bank of China between 2018 and 2023. Photo: EPA-EFE

China’s military

China ‘showed integrated combat capabilities in locking on US fifth-gen jets’

A PLA J-16 fighter reportedly chased away two foreign planes– believed to be US F-22s – from its air defence identification zone last year.

17 Oct 2025 - 6:24PMvideocam

China's military weapons

What did 3 new PLA units at WWII parade say about China’s hi-tech war plans?

Showcasing new branches signals China’s push to reshape combat strategy by integrating advanced tech for joint operations, analysts say.

7 Sep 2025 - 6:00AMvideocam

US-China relations

My Take | How will China fight a new trade war under Trump 2.0?

With hindsight from Trump’s first term, Beijing could adopt a different approach this time around.

10 Dec 2024 - 7:00AM

US President Donald Trump meets Chinese President Xi Jinping on the sidelines of the G-20 summit in Osaka, Japan in June 2019. Photo: AP Photo

China trade

‘Never a good choice’: China’s retaliation for US curbs may be just starting

An expected escalation of the US-China trade war, and the Chinese public’s demand for a response, could light a fire under Beijing’s policymakers, former PBOC head says.

4 Dec 2024 - 7:59PM

Fresh comments from former central bank governor Yi Gang have painted a worrisome picture of relations between China and the US over the next four years. Photo: AP

China's economic recovery

China must act to avoid crisis, former Japanese central banker warns

Former central bank governors have raised the alarm over deflation and slowdown, both of which were symptoms in Japan’s ‘lost decades’.

6 Sep 2024 - 10:58PMvideocam

China's economic recovery

China’s AI gains will fuel economy as windfall swells into trillions: McKinsey

It’s been one year since the public release of ChatGPT, kick-starting an AI race that is commanding vast resources by Chinese firms looking to cash in on ‘frontier tech’.

29 Nov 2023 - 6:00AM

China digital currency

China’s digital yuan ‘at forefront globally’, ex-central bank governor says

Former central bank governor Yi Gang gave two recent lectures of his tenure in Beijing and Singapore, saying China’s digital yuan could facilitate a wide range of domestic retail payments, including by foreign visitors, while it also has overseas use.

4 Aug 2023 - 11:00PM

China was the one of the first major economies to study a central bank digital currency, with a research institute charted under the People’s Bank of China (PBOC) in 2016. Photo: VCG via Getty Images

Banking & finance

China names new central bank governor as twice-a-decade finance conference nears

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.

26 Oct 2023 - 6:13PMvideocam

Pan Gongsheng has been named governor of the People’s Bank of China. Photo: Reuters

Yuan

China’s yuan to stay flexible, but Beijing downplays West’s devaluation concerns

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.

14 Jul 2023 - 10:30PMvideocam

China's economic recovery

China’s retiring central bank governor Yi Gang calls for economic prudence

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.

14 Jul 2023 - 10:00AMvideocam

Banking & finance

China’s central bank chief signals phasing out currency intervention

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.

16 Apr 2023 - 7:21AMvideocam

Yi Gang, governor of the People’s Bank of China, in Washington US on Saturday. Photo: Bloomberg

Banking & finance

China’s top banker blames rate hikes by Western nations for global instability

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.

15 Apr 2023 - 5:31AMvideocam

Banking & finance

Chinese regulator mulls use of AI chatbots in financial regulation

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.

7 Apr 2023 - 5:20AMvideocam

Banking & finance

Explainer | Who is Yi Gang, the US-educated governor of China’s central bank?

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.

14 Mar 2023 - 9:32AMvideocam

Yi Gang was appointed governor of the People’s Bank of China (PBOC) in 2018. Photo: Bloomberg

Yuan

Yuan to ‘show good investment value’ as economy recovers, US rate gap narrows

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.

3 Mar 2023 - 6:00PM

Pan Gongsheng said on Friday that as China’s economy recovers, the yuan’s role as a safe haven asset will become more prominent. Photo: EPA-EFE

Hong Kong financial summit 2022

Top Chinese regulators to virtually take part in Hong Kong financial summit

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’.

2 Nov 2022 - 8:33AMvideocam

China's economic recovery

China flags greater economic help as firms face ‘more difficulties’ than 2020

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.

5 Sep 2022 - 10:05AMvideocam

China's economic recovery

China sends ministers to oversee local governments as economic recovery slows

China sent high-ranking officials, including central bank governor Yi Gang and several cabinet ministers, across the country to supervise implementation of stimulus policies.

30 Aug 2022 - 2:35AMvideocam

Turmoil in the property market, a local banking crisis and drought are all weighing on the Chinese economy. Photo: Bloomberg

China inflation

Explainer | Why is China’s inflation rate low compared to the US, Europe and Britain?

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?

17 Jun 2022 - 4:20PMvideocam

115

China’s consumer price index grew 2.1 per cent in May from a year earlier, flat from April, though still at a six-month high. Photo: Xinhua

Banking & finance

PBOC chief says China willing to cooperate on digital financial rule making

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.

7 Oct 2021 - 11:18PMvideocam

Banking & finance

Ant Group’s IPO could be revived, hints China’s central bank governor

PBOC governor Yi Gang said there needs to be more international cooperation on regulating fintech, particularly regarding the ownership of consumer data.

27 Jan 2021 - 6:35AMvideocam

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Yi Gang

Why the growing network of American MQ-9 drones is a challenge for China

Reapers can carry out both reconnaissance and strike missions and an increasing number of US allies and partners are buying them.

US establishes new army foothold in Southeast Asia to ‘contain China’: analyst

PLA urged to find a way to operate effectively under the gaze of US and Japan

Will Beijing look to US capture of Nicolas Maduro for lessons on Taiwan?

Analysts say US operation should serve as warning to separatist forces in Taiwan following PLA drills targeting the island’s leadership.

US Navy aircraft crashes offer lessons for PLA carrier operations, analysts say

Chinese military could learn from rival’s strengths in search and rescue response, but also its weaknesses in maintenance and training.

Is China quietly preparing cargo ships to transform into military vessels?

Containers bear the words ‘plan for the maritime revival of the Chinese nation and the community of shared future for mankind in the ocean’.

China’s former central bank chief loses leadership role in top advisory body

Decision affecting Yi Gang and nine other former senior officials made amid Beijing’s continuing anti-corruption campaign.

China ‘showed integrated combat capabilities in locking on US fifth-gen jets’

A PLA J-16 fighter reportedly chased away two foreign planes– believed to be US F-22s – from its air defence identification zone last year.

What did 3 new PLA units at WWII parade say about China’s hi-tech war plans?

Showcasing new branches signals China’s push to reshape combat strategy by integrating advanced tech for joint operations, analysts say.

.css-1m2rp1p{color:#34b8b5;}My Take | How will China fight a new trade war under Trump 2.0?

With hindsight from Trump’s first term, Beijing could adopt a different approach this time around.

‘Never a good choice’: China’s retaliation for US curbs may be just starting

An expected escalation of the US-China trade war, and the Chinese public’s demand for a response, could light a fire under Beijing’s policymakers, former PBOC head says.

China must act to avoid crisis, former Japanese central banker warns

Former central bank governors have raised the alarm over deflation and slowdown, both of which were symptoms in Japan’s ‘lost decades’.

China’s AI gains will fuel economy as windfall swells into trillions: McKinsey

It’s been one year since the public release of ChatGPT, kick-starting an AI race that is commanding vast resources by Chinese firms looking to cash in on ‘frontier tech’.

China’s digital yuan ‘at forefront globally’, ex-central bank governor says

Former central bank governor Yi Gang gave two recent lectures of his tenure in Beijing and Singapore, saying China’s digital yuan could facilitate a wide range of domestic retail payments, including by foreign visitors, while it also has overseas use.

China names new central bank governor as twice-a-decade finance conference nears

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.

China’s yuan to stay flexible, but Beijing downplays West’s devaluation concerns

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.

China’s retiring central bank governor Yi Gang calls for economic prudence

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.

China’s central bank chief signals phasing out currency intervention

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.

China’s top banker blames rate hikes by Western nations for global instability

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.

Chinese regulator mulls use of AI chatbots in financial regulation

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.

.css-sioo19{color:#c79a00;}Explainer | Who is Yi Gang, the US-educated governor of China’s central bank?

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.

Yuan to ‘show good investment value’ as economy recovers, US rate gap narrows

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.

Top Chinese regulators to virtually take part in Hong Kong financial summit

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 flags greater economic help as firms face ‘more difficulties’ than 2020

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 sends ministers to oversee local governments as economic recovery slows

China sent high-ranking officials, including central bank governor Yi Gang and several cabinet ministers, across the country to supervise implementation of stimulus policies.

Explainer | Why is China’s inflation rate low compared to the US, Europe and Britain?

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?

PBOC chief says China willing to cooperate on digital financial rule making

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.

Ant Group’s IPO could be revived, hints China’s central bank governor

PBOC governor Yi Gang said there needs to be more international cooperation on regulating fintech, particularly regarding the ownership of consumer data.

My Take | How will China fight a new trade war under Trump 2.0?

Explainer | Who is Yi Gang, the US-educated governor of China’s central bank?