Caixin OnlineFinance & EconomicsTop Stories Finance Yi Gang: China's Forward-Thinking Forex Chief
12.04.2013 15:43

Yi Gang: China's Forward-Thinking Forex Chief

A leading monetary policymaker says China should cap forex reserves and marketize the yuan's exchange rate
By staff reporters Hu Shuli and Huo Kan

(Beijing) -- China's foreign exchange reserves reached an extraordinary US$ 3.66 trillion as of October 1, up from about US$ 2 trillion in July 2009 when People's Bank of China Deputy Governor Yi Gang was given a dual position as administrator of the State Administration of Foreign Exchange (SAFE).

Yi has thus presided over a period of dramatic growth for the nation's forex reserves, supervised by SAFE under the control of the central bank. He has also personally experienced every notable twist and turn in China's evolving financial sector since joining the central bank in 1997 and winning the deputy governor position in 2007.

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