China names new central bank governor as economy flags

China names new central bank governor as economy flags FMTNews FMTWorld

BEIJING: China replaced its central bank chief today, state media said, as the world’s second largest economy struggles to revive flagging growth.

Pan previously headed China’s foreign exchange regulator, a position he had held since 2016, when China faced major capital flight.Pan, who attended top universities Cambridge in the UK and Harvard in the US, is reputed to be deeply experienced in Chinese banking and politics, having also worked at two major state-owned banks.

“This suggests Xi is more concerned about China’s economy than before the 20th Party Congress,” Thomas tweeted, referring to a key conclave last year where Beijing’s top leadership confirmed a third term in power for Xi. China said this month its economy grew 6.3% in the second quarter, much weaker than the 7.1% predicted in an AFP survey of analysts.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

fmtoday /  🏆 5. in MY

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

China trading desk unveils China travel dashboard amid rising outbound travelThe data allows businesses to formulate personalised marketing strategies, optimise ad scheduling, undertake destination marketing, predict upcoming trends and facilitate product development. theSun theSundaily China trading rising travel Biznews
Read more »

Ill-planned increase in TVET wages may backfire, warns economistGeoffrey Williams says employers may take in non-graduates if a minimum wage is imposed for TVET graduates.
Read more »

Bumbung gim runtuh, 10 maut di ChinaBumbung gim runtuh, 10 maut di China Asia LUARNEGARA TERKINI
Read more »

China, Russia conclude joint air and navy drillsMore than 10 warships and over 30 warplanes took part in the four-day exercise.
Read more »

10 killed after school gymnasium roof collapses in China (update)BEIJING (AFP): Ten people have died and one remained trapped after the roof of a school gym collapsed in northeastern China, state media reported Monday (July 24).
Read more »