People's Bank of China sets priorities for its Beijing branch and names Li Wei as new Party secretary and governor

The People's Bank of China published a readout of Governor Pan Gongsheng's supervisory visit to its Beijing branch, outlining the branch's main work priorities and identifying Li Wei as its newly appointed Party secretary and governor. Framed around the Party education campaign on establishing and practicing a correct view of official performance, the visit emphasized stronger execution of central financial policy decisions and head-office work arrangements. Pan said the Beijing branch has a dual role of serving Beijing and supporting head-office functions in its capacity as the PBOC's business management department. He directed the branch to make fuller use of policy tools such as relending for technological innovation and equipment upgrades, strengthen financial risk monitoring, assessment and early warning to safeguard stability in the capital, support Beijing's higher-level financial opening, and steadily advance reforms to facilitate cross-border trade and investment while improving foreign exchange services to the real economy. He also called for the education campaign to combine study, problem identification and rectification, with Li Wei taking primary responsibility for leading implementation and staff development.