Chinese Central Bank Appoints 48 Year-old Deputy Mayor of Chongqing as New Deputy Governor

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The People’s Bank of China (PBOC) has just expanded its senior leadership cohort with the addition of a new deputy governor drawn from the ranks of regional politicians.

PBOC recently updated its official website to reflect the appointment of Li Bo (李波) to the position of deputy governor and party committee member in April.

The move brings the total number of leadership officials with the Chinese central bank to 7 in total. These include governor and deputy party secretary Yi Gang (易纲), party secretary Guo Shuqing (郭树清), and five deputy governors, including Chen Yulu (陈雨露), Pan Gongsheng (潘功胜), Fan Yifei (范一飞), Liu Guiping (刘桂平), Liu Guoqiang (刘国强) and Li Bo.

Li’s appointment to the position follows a year-and-a-half tenure as the deputy-mayor of the Chongqing municipal government starting in September 2019.

Li Bo is a native of Chongqing who was born in 1972, and previously resided in the United States before returning to China 2004.

He joined the Chinese Communist Party in August 2007, and holds PhD’s in economics and law. Li previously served as a lawyer with the New York headquarters of Davis Polk and Wardwell, as well as with their office in Hong Kong.

Li has extensive work experience with the Chinese central bank, having held the positions of deputy head of the legal department, deputy head and head of the articles and laws department, head of the monetary policy department, and chair of the Shanghai cross-border renminbi operations department.

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