China to name forex regulator Pan Gongsheng central bank head -WSJ

China plans to appoint Pan Gongsheng, a deputy governor of the People's Bank of China (PBOC), to head the central bank, the Wall Street Journal reported on Friday, citing people unnamed familiar with the matter. Pan Gongsheng, picked because of his international background, is likely to first be appointed as the bank's Communist Party chief before he is installed as governor, which requires appointment by the government, the report said.

China plans to appoint Pan Gongsheng, a deputy governor of the People's Bank of China (PBOC), to head the central bank, the Wall Street Journal reported on Friday, citing people unnamed familiar with the matter.

Pan Gongsheng, picked because of his international background, is likely to first be appointed as the bank's Communist Party chief before he is installed as governor, which requires appointment by the government, the report said. Pan is the country's chief foreign exchange regulator as head of the State Administration of Foreign Exchange (SAFE).

The PBOC did not immediately respond to a Reuter's fax seeking comment on Saturday. The potential appointment of Pan, 60, comes as expectations rise for the authorities to take steps to boost the world's second-largest economy, where the slowdown is deepening and spreading as a burst of activity after strict COVID-19 controls fades.

The central bank said on Friday it would implement prudent monetary policy in a "precise and forceful manner" to support economic growth and employment. Pan has deep experience with Chinese banks and policy. He has been the deputy president of the PBOC since 2012, according to SAFE's website.

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