Hu Xioalian, former head of SAFE (State Administration of Foreign Exchange), which manages the country’s foreign reserves, will spearhead the internationalization of the renminbi as deputy governor of the People’s Bank of China. Ms. Hu has an impressive background and will play a key role in the success and timing of the internationalization of the RMB.
Cautious Reformer With Her Hand on Forex Tiller
September 11 2008
Financial Times
Hu Xiaolian has been the director and Communist party secretary of China’s State Administration of Foreign Exchange since March 2005 and a deputy governor of the People’s Bank of China, the central bank, since August 2005.
Ms Hu was born in 1958 and joined Safe in 1984 after obtaining an MA from the graduate school of the Institute of Finance Research under the central bank. She was among the first batch of graduates.
She served successively as deputy administrator of Safe and assistant governor of the People’s Bank of China and was named the first general manager of Central Huijin, the government holding company that manages the state’s stakes in the largest banks.
She was elected an alternate member of the ruling Communist party’s central committee at its national congress last October, illustrating the emphasis the central government places on managing the country’s ballooning foreign exchange reserves.
According to some reports, Ms Hu spent four months as a visiting scholar at Harvard university in 2002.
Copyright The Financial Times Limited 2009
{ 0 comments… add one now }