What’s new: Zhang Tao, a financial veteran who worked for China’s central bank and the International Monetary Fund (IMF), joined The People’s Insurance Co. (Group) of China Ltd. (PICC) as a deputy chief of its Communist Party committee, according to its website.
Zhang is expected to become the state-owned insurance giant’s supervisory board chairman, filling the opening left by Huang Liangbo, sources with knowledge of the issue said.
The background: Zhang, 58, has extensive international economic expertise and policymaking experience.
He concluded his five-year tenure as a deputy managing director of the IMF in August. Before that, he served as the IMF’s executive director for China between 2011 and 2015. He was appointed deputy governor of the People’s Bank of China in 2016, before rejoining the IMF that year. The Tsinghua University and University of California, Santa Cruz graduate has also worked at the World Bank and the Asian Development Bank.
Contact reporter Zhang Yukun (yukunzhang@caixin.com) and editor Joshua Dummer (joshuadummer@caixin.com)
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