People's Bank of China. Photo: iStock
People's Bank of China. Photo: iStock

China’s central bank will soon welcome two new deputy directors that come from two distinct backgrounds, according to insiders at the institution, reported.

Zhu Hexin, deputy governor of Sichuan Province, will serve as deputy director of the central bank. While Liu Guoqiang, assistant to the central bank governor, is also expected to be promoted to the position.

Zhu, 50, is a senior economist who enjoys special allowance from the State Council. He boasts rich experience in banking and financial systems and has held senior positions at the Bank of Communications and Bank of China.

The 55-year-old Liu gets the promotion only one and a half years after he was appointed as an assistant to the governor in early 2017, a clear recognition of his work, insiders say.

Previously, Liu worked for 14 years at the Central Financial and Economic Affairs Commission, and he has considerable experience in macroeconomic management.