Ma Delun has been promoted to vice governor of the People’s Bank of China (PBOC) from his former role of assistant governer, Shanghai Securities News reported (in Chinese). Ma replaces Xiang Junbo who last June was named as the new head of Agricultural Bank of China, one of the nation’s Big Four state owned lenders. Ma, 59, has worked for central bank over 15 years. He was also vice governer of the State Administration of Foreign Exchange from 2001 to 2005, before being appointed assistant governor of the PBOC.
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