China on Sunday reappointed Yi Gang as head of the central bank. The decision is believed to have been taken to reassure entrepreneurs and financial markets about the continuity of policies at the top level while other economic officials have been replaced.
Yi Gang will remain governor of the People’s Bank of China, although unlike other central bank governors in the world, he has no role in monetary policy making.
Their official function is to “implement monetary policy” or carry out the decisions taken by a policy-making body. The governor of the central bank in China acts as the spokesman for monetary policy.
