From China Digital Space
省长 (shěng zhǎng): governor
In China, the title “governor” (省长) refers to the highest ranking official of a provincial government. It should be noted that the governor is not the most powerful government official in the province—that position is held by the Secretary of the Provincial Communist Party, the highest-ranking Party official in the province. One example of a famous governor is Li Hongzhong, governor of Hubei (read more about Li Hongzhong via CDT).
The word for governor has also taken on an additional meaning. The first character in the word “governor” is “省” which as a noun means “province” but as a verb means “to save,” as in to save money. Shěngzhǎng (省长) is a recent word for "thrifty." During the economic crisis that began in 2008, it became fashionable to be “thrifty” and numerous websites and books proposed ways to save money while enjoying certain luxuries. Chinese people, who have traditionally been quite careful with money, latched onto the phrase, perhaps pleased they could finally acknowledge they were stingy but could do so by adopting the grandiose title of “governor.”