Central bank official assumes IMF post

Zhang Tao, deputy governor of China's central bank, formally assumed his duties as deputy managing director of the International Monetary Fund on Monday, an appointment that analysts said showcases China's rising influence in the field of global financial governance.

Christine Lagarde, managing director of the IMF, announced the appointment on July 8.

Zhang is currently deputy governor of the People's Bank of China. At the IMF, he succeeds Zhu Min, who stepped down on July 25. Zhu had been in the post since July 2011.