April 11, 2019 / 9:45 AM / 4 months ago

China's new top securities regulator joins c.bank policy panel

BEIJING, April 11 (Reuters) - China has named Yi Huiman, the country’s new securities regulator head, as a member of the central bank’s monetary policy committee, replacing Liu Shiyu, the cabinet said on Thursday.

Yi, a banking veteran, replaces Liu Shiyu. In January, Yi was appointed as chairman of the China Securities Regulatory Commission (CSRC), succeeding Liu.

The 14-member policy committee, chaired by People’s Bank of China chief Yi Gang, meets once every quarter to discuss economic and policy issues. The panel can recommend changes or action when necessary, but its influence is limited. The PBOC has gained more policy influence in recent years, but it still lacks the independence of institutions such as the U.S. Federal Reserve. (Reporting by Kevin Yao; Editing by Richard Borsuk)

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