Liao Min and Zhu Hexin have new identities at the same time
Written by丨Sunset
According to the official website of the central bank on the evening of December 28, on December 27, the regular meeting of the Monetary Policy Committee of the People's Bank of China in the fourth quarter of 2023 (the 103rd in total) was held in Beijing.
The report mentions:
The meeting was chaired by Pan Gongsheng, governor of the People's Bank of China and chairman of the Monetary Policy Committee, and attended by members of the Monetary Policy Committee Liao Min, Zhang Qingsong, Li Yunze, Yi Huiman, Kang Yi, Zhu Hexin, Liu Shijin, Cai Fang, and Wang Yiming. Xu Shouben, Li Chunlin, Liu Guoqiang, and Tian Guoli took leave for official business.
The above news shows that Liao Min and Zhu Hexin have been appointed members of the Monetary Policy Committee of the People's Bank of China.
Pan Gongsheng succeeded Yi Gang as chairman of the Monetary Policy Committee
The Monetary Policy Committee of the People's Bank of China was established in July 1997 as an advisory body for the central bank to formulate monetary policy.
Article 12 of the People's Bank of China Law, newly amended on 27 December 2003, clearly states that the People's Bank of China shall establish a monetary policy committee. The duties, composition and working procedures of the Monetary Policy Committee shall be prescribed by the State Council and shall be reported to the Standing Committee of the National People's Congress for the record. The Monetary Policy Committee of the People's Bank of China should play an important role in the country's macroeconomic regulation and control, monetary policy formulation and adjustment.
The Monetary Policy Committee (MPC) is responsible for:
On the basis of a comprehensive analysis of the macroeconomic situation, and in accordance with the national macroeconomic regulation and control objectives, the formulation and adjustment of monetary policy, monetary policy control objectives within a certain period of time, the use of monetary policy tools, important measures related to monetary policy, and the coordination of monetary policy with other macroeconomic policies are discussed, and suggestions are put forward.
Since the beginning of this year, the MPC has held four regular meetings, namely:
On April 7, the first quarter of 2023 (100th in total) regular meeting
On June 28, the second quarter of 2023 (101st in total) regular meeting
On September 25, the third quarter of 2023 (102nd in total) regular meeting
On December 27, the fourth quarter (103rd overall) regular meeting of 2023
Among them, the regular meetings in the first and second quarters were chaired by Yi Gang, then Governor of the People's Bank of China and Chairman of the Monetary Policy Committee, and the regular meetings in the third and fourth quarters were chaired by Pan Gongsheng, Governor of the People's Bank of China and Chairman of the Monetary Policy Committee.
On July 1, Pan Gongsheng succeeded Guo Shuqing as party secretary of the central bank, and on July 25, he succeeded Yi Gang as governor of the central bank.
New faces
According to the list previously released on the official website of the central bank, the members of the Monetary Policy Committee include financial experts, heads of relevant government departments, from the National Development and Reform Commission, the central bank, the State Administration of Financial Supervision and Administration, the China Securities Regulatory Commission, the National Bureau of Statistics, etc.
According to the latest fourth quarter regular meeting, Liao Min and Zhu Hexin have served as members of the Monetary Policy Committee. Xu Hongcai, who stepped down as vice minister of finance in September, is no longer a member of the Monetary Policy Committee.
Liao Min, male, Han nationality, born in December 1968, 55 years old this year, from Nanchang, Jiangxi, joined the Communist Party of China in January 1989, started working in July 1993, master's degree from the School of Economics of Peking University, and master's degree in business administration from Jiaji Business School, University of Cambridge.
According to the official website of the Ministry of Finance, in August 1999, 31-year-old Liao Min became a deputy director-level cadre of the Executive Director's Office of China Everbright Group (Hong Kong), and then worked in Bank of China, successively serving as a deputy director-level cadre, director, and assistant director of the President's Office.
From April 2003 to November 2016, Liao Min successively served as a director-level cadre, deputy director, director, secretary of the Youth League Committee of the General Office of the China Banking Regulatory Commission, and secretary of the Party Committee and director of the Shanghai Banking Regulatory Bureau.
From November 2016 to March 2018, Liao Min served as the Director of the Fourth Bureau of the Office of the Central Leading Group for Financial and Economic Affairs. In 2018, the Central Leading Group for Financial and Economic Affairs was changed to the Central Financial and Economic Commission, and then Liao Min served as the director of the Fourth Bureau of the Office of the Central Financial and Economic Commission.
In May 2018, Liao Min was appointed Vice Minister of Finance and Deputy Director of the Office of the Central Financial and Economic Commission (until September 2023).
Zhu Hexin was born in March 1968 in Qidong, Jiangsu Province, and graduated from Shanghai University of Finance and Economics in 1991, majoring in economic information management system.
He has worked in Bank of Communications for a long time, and has successively served as President of Bank of Communications Nanjing Branch, President of Jiangsu Branch, Director of Corporate Business of Head Office, Executive Vice President and President of Beijing Management Department, President of Beijing Branch, Member of the Party Committee of Bank of Communications in December 2011 and Vice President of Bank of Communications in January 2013.
In March 2015, Zhu Hexin was appointed as Vice President and member of the Party Committee of Bank of China. In June 2016, he became Vice Governor of Sichuan Province.
In July 2018, Zhu Hexin returned to the financial system as deputy governor and member of the Party Committee of the People's Bank of China.
In March 2020, Zhu Hexin succeeded Chang Zhenming, who retired at the end of the year, as Secretary of the Party Committee and Chairman of CITIC Group Co., Ltd.
On November 24 this year, Zhu He was appointed as a new member of the party committee of the People's Bank of China and succeeded Pan Gongsheng as secretary of the party group of the State Administration of Foreign Exchange. On December 9, Zhu He was appointed vice governor of the People's Bank of China and director of the State Administration of Foreign Exchange.
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