Central Banks
China Central Bank Governor Comes With Hawkish Track Record
- Pan, already PBOC party secretary, takes over from retiring Yi
- He’s helped push through property curbs, defended yuan
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China’s newly appointed central bank Governor Pan Gongsheng comes with a strong record of tackling financial risks, showing he’s unafraid to sacrifice economic growth in order to achieve longer-term stability.
From managing the currency to cracking down on the property market, Pan will now have to draw on his decade of experience at the central bank to steer the economy through its current downturn. A key challenge will be balancing calls for more monetary stimulus against the risk of driving up debt in the economy.