On the move

Yin Yong rises to Deputy Governor of PBOC

The government has promoted Assistant Governor Yin Yong to deputy governor of the People's Bank of China. It also named Liu Guoqiang as an assistant governor. PBOC's Deputy Governor Guo Qingping and Assistant Governor Yang Ziqiang will step down, according to a statement on the State Council's website. No further details were given. Yin worked for nearly two decades at the State Administration of Foreign Exchange, which executes currency policy, before becoming an assistant governor last year, according to the central bank's website. As director of SAFE's investment center from 2007 to 2015, Yin oversaw the nation's foreign reserves during a period in which they more than doubled to become the world's largest stockpile and reached a record $4 trillion. Yin holds a master's degree in public administration from Harvard University and an engineering PhD from Tsinghua University, according to the PBOC.

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