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Yi Gang

The latest news on Yi Gang, Chinese economist and former governor of the People's Bank of China, including Chinese politics news.

Born

5 Mar 1958

Industry

Business

Job Title

Former Governor, People's Bank of China

US President Donald Trump meets Chinese President Xi Jinping on the sidelines of the G-20 summit in Osaka, Japan in June 2019. Photo: AP Photo

US-China relations

My Take | How will China fight a new trade war under Trump 2.0?

With hindsight from Trump’s first term, Beijing could adopt a different approach this time around.

10 Dec 2024 - 7:00AM

China trade

‘Never a good choice’: China’s retaliation for US curbs may be just starting

4 Dec 2024 - 7:59PM

China's economic recovery

China must act to avoid crisis, former Japanese central banker warns

6 Sep 2024 - 10:58PMvideocam

China's economic recovery

China’s AI gains will fuel economy as windfall swells into trillions: McKinsey

It’s been one year since the public release of ChatGPT, kick-starting an AI race that is commanding vast resources by Chinese firms looking to cash in on ‘frontier tech’.

29 Nov 2023 - 6:00AM

Chinese companies are investing big in artificial intelligence. Photo: EPA-EFE

China digital currency

China’s digital yuan ‘at forefront globally’, ex-central bank governor says

Former central bank governor Yi Gang gave two recent lectures of his tenure in Beijing and Singapore, saying China’s digital yuan could facilitate a wide range of domestic retail payments, including by foreign visitors, while it also has overseas use.

4 Aug 2023 - 11:00PM

Banking & finance

China names new central bank governor as twice-a-decade finance conference nears

Analysts say Pan Gongsheng’s many years of experience at the People’s Bank of China give him a critically important vantage point from which to tackle financial risks and shore up economic growth.

26 Oct 2023 - 6:13PMvideocam

Yuan

China’s yuan to stay flexible, but Beijing downplays West’s devaluation concerns

Authorities use down-to-Earth language to ease minds and shore up markets at a time when the economy is sputtering and the yuan has again dropped below the key psychological point of 7.0 against the US dollar.

14 Jul 2023 - 10:30PMvideocam

The yuan has dropped below the key psychological point of 7.0 against the US dollar for the fourth time since 2019. Photo: Shutterstock

China's economic recovery

China’s retiring central bank governor Yi Gang calls for economic prudence

The People’s Bank of China’s Yi Gang and his analyses on hot-button issues featured prominently in an article for the Journal of Economic Research ahead of his expected retirement.

14 Jul 2023 - 10:00AMvideocam

Banking & finance

China’s central bank chief signals phasing out currency intervention

People’s Bank of China Governor Yi Gang also said the bank will seek to guide monetary policy so that real interest rates move slightly below the potential growth rate.

16 Apr 2023 - 7:21AMvideocam

Banking & finance

China’s top banker blames rate hikes by Western nations for global instability

People’s Bank of China Governor Yi Gang addresses finance ministers in Washington in first trip to US capitol by a senior Chinese economic official since pandemic.

15 Apr 2023 - 5:31AMvideocam

People’s Bank of China Governor Yi Gang attended a meeting of finance ministers in Washington on Friday. Photo: Reuters

Banking & finance

Chinese regulator mulls use of AI chatbots in financial regulation

Lu Lei, deputy head of the State Administration of Foreign Exchange, says technology like ChatGPT, an AI chatbot, could be used to study financial issues and inform monetary policy.

7 Apr 2023 - 5:20AMvideocam

Lu Lei, deputy head of the State Administration of Foreign Exchange, says generative AI could be used to study financial issues. Photo: Weibo

Banking & finance

Explainer | Who is Yi Gang, the US-educated governor of China’s central bank?

Since being appointed central bank governor in 2018, US-educated Yi Gang has led financial reforms and a debt reduction campaign, while maintaining a prudent monetary stance.

14 Mar 2023 - 9:32AMvideocam

Yuan

Yuan to ‘show good investment value’ as economy recovers, US rate gap narrows

Central bank deputy governor Pan Gongsheng said that as China’s economy recovers and the interest rate differential with the US stabilises, the yuan’s role as a safe-haven asset will become more prominent.

3 Mar 2023 - 6:00PM

Hong Kong financial summit 2022

Top Chinese regulators to virtually take part in Hong Kong financial summit

The virtual presence of top regulators at the Global Financial Leaders’ Investment Summit echoes President Xi Jinping’s recent promise of ‘full support for Hong Kong to develop its economy’.

2 Nov 2022 - 8:33AMvideocam

People’s Bank of China governor Yi Gang will address the Global Financial Leaders’ Investment Summit on Wednesday. Photo: Handout

China's economic recovery

China flags greater economic help as firms face ‘more difficulties’ than 2020

China’s Premier Li Keqiang Beijing has said companies are facing more difficulties than during the initial coronavirus outbreak in 2020 and pledged to unveil additional support policies this month.

5 Sep 2022 - 10:05AMvideocam

Even if China avoids economic damage like that of the second quarter, recent lockdowns and power disruptions will make full economic recovery difficult. Photo: Reuters

China's economic recovery

China sends ministers to oversee local governments as economic recovery slows

China sent high-ranking officials, including central bank governor Yi Gang and several cabinet ministers, across the country to supervise implementation of stimulus policies.

30 Aug 2022 - 2:35AMvideocam

China inflation

Explainer | Why is China’s inflation rate low compared to the US, Europe and Britain?

Global inflation is soaring, reaching a 40-year high in the US, thanks to sky-high food and energy prices that have been exacerbated by the war in Ukraine. Why is it a different story in China?

17 Jun 2022 - 4:20PMvideocam

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Banking & finance

PBOC chief says China willing to cooperate on digital financial rule making

Technology firms offering financial services should be licensed and must adopt the ‘same business, same rules’ approach, according to the top banker at the People’s Bank of China.

7 Oct 2021 - 11:18PMvideocam

People’s Bank of China governor Yi Gang. Photo: EPA-EFE

Banking & finance

Ant Group’s IPO could be revived, hints China’s central bank governor

PBOC governor Yi Gang said there needs to be more international cooperation on regulating fintech, particularly regarding the ownership of consumer data.

27 Jan 2021 - 6:35AMvideocam

Coronavirus pandemic

China looks to G20, IMF to boost policy coordination amid virus fallout

Deputy governor of China’s central bank says it is ‘too early’ to call it a global financial crisis.

24 Mar 2020 - 3:53PMvideocam

China economy

China hints at possible inflation target leeway amid soaring pork prices

Central bank governor Yi Gang said in an article that inflation targets of ‘3 or 4 per cent’ were appropriate for developing countries, signalling China’s may be raised in 2020.

3 Dec 2019 - 9:18AMvideocam

China’s CPI rose 3.8 per cent in October from a year earlier, with pork prices more than doubling over the period. Photo: AFP

People’s Bank of China (PBOC)

China will not resort to quantitative easing: central bank chief

‘We should not let the money held by the Chinese people become worthless,’ People’s Bank of China governor Yi Gang says.

1 Dec 2019 - 10:52PM

PBOC chief Yi Gang says the central bank will continue to implement a prudent monetary policy. Photo: EPA-EFE

China economy

China unlikely to follow Fed rate cut, central bank governor suggests

The US Federal Reserve is expected to cut its interest next week, but People’s Bank of China chief Yi Gang says that Beijing does not always follow its American counterpart.

23 Jul 2019 - 8:26PM

Central banks

US-China trade truce better than expected, says central bank governor

Yi Gang, governor of the People’s Bank of China, said at an event in Helsinki that the world’s two largest economies can solve their problems ‘one by one’.

1 Jul 2019 - 11:12PM

US-China trade war

Trump ‘perfectly happy’ to impose more tariffs if talks fail to progress

US Treasury Secretary Steven Mnuchin puts ball back in Beijing’s court, saying Washington prepared to ‘move forward’ as long as China accepts its terms.

10 Jun 2019 - 10:47AM

US Treasury Secretary Steven Mnuchin with People‘s Bank of China governor Yi Gang. Photo: AP

Two Sessions 2019

China has made clear effort to keep yuan stable, says central bank

People’s Bank of China governor Yi Gang says Beijing will not devalue yuan to boost exports or ease trade tensions amid the US-China trade war.

11 Mar 2019 - 10:04AM

China has made a clear effort to keep yuan exchange rate stable, says central bank

Argentina

Argentina seeks US$8.7 billion currency swap with China after IMF loan

Central bank governor Guido Sandleris says the two sides ‘have reached a consensus’ on the deal, days after the IMF approved a US$56 billion loans package to help the nation stabilise its battered economy.

9 Nov 2018 - 12:56PM

China economy

So who’s really in charge at China’s central bank?

26 Mar 2018 - 9:46PM

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