China reportedly set to appoint veteran banker, Zhu Hexin, as new forex regulator chief

In response to the report by Reuters, Zhu’s appointment to move the State Administration of Overseas Trade (SAFE) may come as quickly as subsequent week. It’s one the place he would even be named as a PBOC deputy governor to supervise overseas trade regulatory issues, in accordance with sources aware of the matter.

The nice high-level reshuffle continues in China as Xi is trying to contemporary faces to usher within the restoration section within the economic system and eager to stem capital outflows within the yuan.