Yi Gang
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Yi Gang

Yi Gang
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
A firefighter walks past a destroyed anti-aircraft unit at La Carlota military base in Caracas following a US strike that captured Venezuelan leader Nicolas Maduro on Saturday. Photo: Reuters
China-Latin America relations

Will Beijing look to US capture of Nicolas Maduro for lessons on Taiwan?

Analysts say US operation should serve as warning to separatist forces in Taiwan following PLA drills targeting the island’s leadership.

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China’s navy

US Navy aircraft crashes offer lessons for PLA carrier operations, analysts say

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China's military weapons

Is China quietly preparing cargo ships to transform into military vessels?

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China’s Communist Party

China’s former central bank chief loses leadership role in top advisory body

Decision affecting Yi Gang and nine other former senior officials made amid Beijing’s continuing anti-corruption campaign.

Yi Gang served as the governor of the People’s Bank of China between 2018 and 2023. Photo: EPA-EFE
China’s military

China ‘showed integrated combat capabilities in locking on US fifth-gen jets’

A PLA J-16 fighter reportedly chased away two foreign planes– believed to be US F-22s – from its air defence identification zone last year.

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China's military weapons

What did 3 new PLA units at WWII parade say about China’s hi-tech war plans?

Showcasing new branches signals China’s push to reshape combat strategy by integrating advanced tech for joint operations, analysts say.

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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.

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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
China trade

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

An expected escalation of the US-China trade war, and the Chinese public’s demand for a response, could light a fire under Beijing’s policymakers, former PBOC head says.

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China's economic recovery

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

Former central bank governors have raised the alarm over deflation and slowdown, both of which were symptoms in Japan’s ‘lost decades’.

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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’.

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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.

China was the one of the first major economies to study a central bank digital currency, with a research institute charted under the People’s Bank of China (PBOC) in 2016. Photo: VCG via Getty Images
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.

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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.

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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.

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PBOC governor Yi Gang would like to see greater market-driven force and more flexibility in the yuan’s exchange rate regime. Photo: Shutterstock
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.

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Yi Gang, governor of the People’s Bank of China, in Washington US on Saturday. Photo: Bloomberg
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.

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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.

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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.

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Yi Gang was appointed governor of the People’s Bank of China (PBOC) in 2018. Photo: Bloomberg
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.

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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’.

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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.

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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.

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Turmoil in the property market, a local banking crisis and drought are all weighing on the Chinese economy. Photo: Bloomberg
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?

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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.

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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.

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Ant Group’s US$34.5 billion initial public offering was scrapped in November over concerns about systemic risk and consumer complaints. Photo: Bloomberg
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.

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The People’s Bank of China is using “multilateral, regional and bilateral” channels to exchange views with other central banks. Photo: Bloomberg
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.

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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.

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