- Pan Gongsheng was appointed as the Governor of the Central Bank of China, marking the ruling Communist Party’s highly anticipated final major appointment in a decade.
- Pan Gongsheng, a deputy governor of the central bank and a seasoned expert in China’s government banking sector, assumed the position, succeeding Yi Gang, an American-trained economist who served in the role for five years.
- The Governor of the People’s Bank of China, Pan Gongsheng, holds a preeminent position within Chinese finance circles, as the bank is under the control of the ruling Communist Party.
Bank of China
- In August 1905, the first National Bank of China, known as the Treasure Bank, was founded in Beijing.
- Instead of being named ‘Bank of Great King,’ the institution adopted the name ‘Bank of China’ when it opened its doors in Shanghai on February 5, 1912.
- On August 1, 1912, the bank’s headquarters were established in Zijiaamin Lane, Beijing.
- In 2006, Bank of China made history by becoming the first Chinese bank to achieve dual listing on both the Hong Kong Stock Exchange and the Shanghai Stock Exchange.