The State Council, China’s cabinet, approved the promotions from assistant governors on Dec. 23, the People’s Bank of China said in a statement on its Web site today. Wu Xiaoling, 61, formerly the vice governor overseeing monetary policy, exited.
The appointments haven’t ended speculation that a bigger move is possible: the replacement of Governor Zhou Xiaochuan, 59, now that he’s served five years in the role. He presided over the first change in currency policy in a decade as China ended a peg to the dollar and revalued the yuan in 2005. [Full Text]