Reshuffle of China’s Central Bank's Monetary Policy Committee

China has reshuffled its cabinet officials. Guo Shuqing has been appointed as China's banking regulator of the central bank's monetary policy committee. He was positioned as the chairman of the China Banking Regulatory Commission. On the other hand, Ding Xuedong replacing the Xiao Jie, was appointed as the finance minister who is the former deputy secretary-general of the committee.

The policy meeting is scheduled to gather every quarter of the year to talk about the current economic and policy concerns and have their suggestions. Although, the final decision of main primary currency rate and borrowing rates should be approved by the senior cabinet as well as the party leaders.