New bank chief considered reformer with steady hand

China's overhaul of key government positions, which led to the election of a new central bank governor and finance minister on Monday, sends a message of policy continuity in an effort to push forward reform while preventing financial risks, political observers said.

Yi Gang, 60, the former vice-governor of the central bank, was elected by the country's top legislature to take over the helm at the People's Bank of China, the central bank, from Zhou Xiaochuan, who had been in the job for 15 years.

The new governor, who joined the bank in 1997, pledged to implement prudent monetary policy, make progress on financial reform and opening-up and maintain financial stability. That will be the "most important task", and China's financial sector should remain stable, Yi said after his nomination was endorsed at a meeting of the annual session of the 13th National People's Congress.