According to the report by Reuters, Zhu’s appointment to head the State Administration of Foreign Exchange (SAFE) could come as soon as next week. It is one where he would also be named as a PBOC deputy governor to oversee foreign exchange regulatory matters, according to sources familiar with the matter.
The great high-level reshuffle continues in China as Xi is looking to fresh faces to usher in the recovery phase in the economy and wanting to stem capital outflows in the yuan.