What’s new: Li Bo, a financial veteran who spent 14 years at the central bank, will become a deputy governor of the bank after spending more than two years helping to lead the Southwest China municipality of Chongqing, Caixin learned.
The Chongqing city government accepted Li’s resignation as vice mayor, according to a statement issued Wednesday. Sources close to the matter said Li stepped down to accept an appointment as a deputy governor of the People’s Bank of China, although the bank has yet to make an official announcement.
Li, a former director of the central bank’s monetary policy department, was named Chongqing vice mayor in September 2019 amid a wave of appointments of financiers to senior local government positions. Li oversaw commerce, international trade, free trade zone pilot projects and local financial regulations in Chongqing.
The background: Li, 49, has a doctorate in economics from Stanford University and a law degree from Harvard Law School. He worked as a lawyer for U.S. law firm Davis Polk & Wardwell LLP before returning to China in 2004 and taking a position at the PBOC.
During his years at the central bank, Li held senior posts in the bank’s regulation and monetary policy departments. He helped draft key regulations on money laundering, cross-border transactions and credit reporting.
Contact reporter Han Wei (weihan@caixin.com) and editor Bob Simison (bobsimison@caixin.com).
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