China names new forex chief
By Justine Lau in Hong Kong and John Burton in Singapore
Published: July 17 2009 15:28 | Last updated: July 17 2009 22:48
China on Friday named Yi Gang, deputy governor of its central bank, as head of the State Administration of Foreign Exchange, which manages the country’s foreign reserves, the world’s largest.
The appointment of Mr Yi, 51, comes as the People’s Bank of China, the central bank, announced this week that foreign reserves reached $2,132bn at the end of June after a rapid accumulation of funds in the second quarter.
By Justine Lau in Hong Kong and John Burton in Singapore
Published: July 17 2009 15:28 | Last updated: July 17 2009 22:48
China on Friday named Yi Gang, deputy governor of its central bank, as head of the State Administration of Foreign Exchange, which manages the country’s foreign reserves, the world’s largest.
The appointment of Mr Yi, 51, comes as the People’s Bank of China, the central bank, announced this week that foreign reserves reached $2,132bn at the end of June after a rapid accumulation of funds in the second quarter.