Zhou Xiaochuan is set to serve as China’s central bank governor past the mandatory retirement age after the government devised a workaround to keep him in office, in a move analysts say will keep the country’s financial reforms on track.
Mr Zhou was elected deputy chairman of an advisory body to the Chinese parliament yesterday, giving him a “national-level leader” rank allowing him to remain at the helm of the central bank despite reaching the retirement age of 65.
The extension of Mr Zhou’s term, which had been expected after overseas Chinese media first reported it a month ago, comes at a crucial juncture as reformers urge Beijing to unleash more market forces into the economy.
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