PBOC appoints Party secretary

Pan Gongsheng, deputy governor of the People's Bank of China and head of the State Administration of Foreign Exchange, was appointed as Party secretary of the PBOC, the central bank said on Saturday.

Meanwhile, Guo Shuqing and Yi Gang were removed from their positions of the PBOC's Party secretary and deputy Party secretary, respectively, the central bank said.

Yi currently serves as the governor of the PBOC while Guo is the deputy governor.