What’s new: The People’s Bank of China (PBOC) has promoted Tao Ling, a veteran official, to deputy governor, the central bank’s website shows.
Tao, 52, has extensive experience in financial stability and regulating the asset management business, public information shows. People close to her describe her as competent and affable.
Tao became a deputy head of the PBOC’s Financial Stability Bureau in 2013, and head of the secretariat department at the general office of the Financial Stability and Development Committee (FSDC) in 2019. The now-defunct FSDC was a cross-agency committee set up under the State Council, China’s cabinet, and its general office was established in the central bank.
After the FSDC was absorbed by the Communist Party’s Central Financial Commission last year as part of a regulatory overhaul, some staff were moved to the new commission, but Tao remained at the PBOC, sources with knowledge of the matter told Caixin.
The background: With Tao’s promotion, the PBOC leadership consists of Governor Pan Gongsheng, five deputy governors, and a graft buster dispatched by the Central Commission for Discipline Inspection.
Contact reporter Zhang Yukun (yukunzhang@caixin.com) and editor Jonathan Breen (jonathanbreen@caixin.com)
