China has named Pan Gongsheng as the new governor of its central bank, the People’s Bank of China (PBOC).
The 60-year-old’s appointment comes as the country continues to struggle with major economic challenges in the wake of the coronavirus pandemic.
Among the problems facing the world’s second largest economy are slowing growth, a housing market in crisis and youth unemployment at a record high.
Mr Pan succeeds Yi Gang, who held the top post at the PBOC since 2018.
Some analysts said the promotion of Mr Pan, who is not regarded as a close ally of President Xi Jinping, signals recognition by the government that it needs an experienced economist with a track record in crisis management to help steer the country through its economic problems.