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World Business Report: First broadcast 26/07/2023 14:32 GMT : Will China’s new central banker fix the crisis?

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Will China’s new central banker fix the crisis?

First broadcast 26/07/2023 14:32 GMT 

First broadcast 26/07/2023 14:32 GMT : Will China’s new central banker fix the crisis?

BBC World Service - World Business Report, Will China’s new central banker fix the crisis?

The new appointment is designed to help China in challenging economic times

Pan Gongsheng is appointed as China’s new Central Banker as it continues to struggle to recover economically in the wake of the coronavirus pandemic.

China has named Pan Gongsheng as the new governor of its central bank, the People's Bank of China (PBOC). The country is experiencing challenging economic times, with sluggish consumer spending, a crisis in the property market, weakening exports, record youth unemployment, and high local government debt. 

China's political leadership has played down the severity of its economic issues, but this new appointment shows signs that that might be changing. 

(Picture: Pan Gongsheng, the new governor of China's central bank. Picture credit: Getty Images)

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First broadcast 26/07/2023 14:32 GMT : Will China’s new central banker fix the crisis?

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