Yi, whose official title is governor of the People's Bank of China, plays no role in making monetary policy, unlike his counterparts in other major economies. His official duties lie in "implementing monetary policy," or carrying out decisions made by a policymaking body whose membership is a secret.
At the March 5 opening of the annual session of China's rubber-stamp parliament, the National People's Congress, China announced plans for a consumer-led revival of the struggling economy, setting this year's growth target at "around 5 per cent." A longtime veteran of monetary policy departments, Yi was first appointed governor of the People's Bank of China in March 2018, taking over from the highly regarded Zhou Xiaochuan.
Yi's reappointment came on the congress's penultimate day, which also saw Xi loyalists appointed as finance minister and head of the Cabinet planning agency to carry out a program to tighten control over entrepreneurs, reduce debt risks and promote state-led technology development. Incumbent Wang Wentao was reappointed minister of commerce.
Did he also win the voting process 2,952 to Zero…? I have admiration for China’s Basic Dictatorship. “The vote for Xi was 2,952 to 0 by the NPC, members of which are appointed by the ruling party.”
“Favouring continuity” lmao. Our state propaganda arm CTV never misses a chance to report favourably on the chicomms. What does that tell us?
I’m shocked