Yi Gang

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Yi Gang
易纲
Yi at the World Economic Forum Annual Meeting in 2013
12th Governor of the People's Bank of China
In office
19 March 2018 – 25 July 2023
PremierLi Keqiang
(2018–2023)
Li Qiang
(2023)
Party secretaryGuo Shuqing
Pan Gongsheng
Preceded byZhou Xiaochuan
Succeeded byPan Gongsheng
Personal details
Born (1958-03-05) 5 March 1958 (age 65)
Beijing, China
Political partyChinese Communist Party
Alma mater
OccupationEconomist

Yi Gang (Chinese: 易纲; pinyin: Yì Gāng) (born 5 March 1958) is a Chinese economist who served as the governor of the People's Bank of China from 2018 to 2023,[1] vice governor of the People's Bank of China from 2007 to 2018, director of the State Administration of Foreign Exchange from 2009 to 2015, and assistant governor of the People's Bank of China from 2004 to 2007.[2]

Biography[edit]

Yi Gang was born in Beijing, March 5, 1958. He studied at Beijing University, Hamline University in Saint Paul, Minnesota, and obtained his Ph.D in Economics from the University of Illinois Urbana–Champaign,[3]: 195–196  with a dissertation on statistical model selection methods.[4] He became an Associate Professor with tenure at Indiana University–Purdue University Indianapolis and then joined the faculty of Peking University as professor, deputy director of the Center for Economics Research, and Ph.D advisor in Economics. He went to the People's Bank of China in 1997 and then successively served as Deputy Secretary-General and Secretary-General of the Monetary Policy Committee, Deputy Director-General and Director-General of the Monetary Policy Department, and Assistant Governor, as well as President of the Operations Office from September 2006 to October 2007. In December 2007, he was appointed Deputy Governor of the People's Bank of China. From 2009, he served as Director of the State Administration of Foreign Exchange (SAFE)[5] until January 12, 2016. On April 18, 2012, Indiana University president Michael A. McRobbie conferred an honorary doctorate of humane letters upon Yi Gang, who served as assistant professor and associate professor of economics at IUPUI from 1986 to 1994.[6]

Yi has published more than 40 articles in Chinese and 20 academic papers in English that have appeared in economics journals such as the Journal of Econometrics, the China Economic Review, and Comparative Economic Studies. Yi is the author of ten books, and he served as a consultant for the Scandinavian Journal of Statistics, the Journal of Econometrics, China Economic Review, Comparative Economic Studies, Economic Theory, Contemporary Policy Issues, and the Journal of Asian Economics. He also serves on the editorial board of the China Economic Review and the Journal of Asian Economics.[7]

In October, 2016, Yi helped represent China at the semi-annual meetings of the IMF and the World Bank in Washington, D.C., including on a panel with Bank of England governor Mark Carney. The meetings came as the yuan was for the first time being included in the IMF’s international basket of currencies known as special drawing rights. Questions about Chinese debt levels, steel production and housing production were among those addressed in the meetings.[8]

In October 2017, at the 19th National Congress of the Chinese Communist Party, he was elected as an alternate member of the 19th Central Committee of the Chinese Communist Party.[9]

From March 2018 to July 2023, Yi was appointed as the governor of the People's Bank of China.[10] In July 2018, he was named Vice Chair of the Financial Stability and Development Committee.[11]

He is also an adviser to the China Finance 40 Forum (CF40).[12]

References[edit]

  1. ^ "中国人民银行行长:易纲(图|简历) _中国经济网——国家经济门户". finance.ce.cn. Retrieved 2023-03-04.
  2. ^ "易纲教授简历" (PDF). Peking University National School of Development. Retrieved 2023-03-03.
  3. ^ Li, David Daokui (2024). China's World View: Demystifying China to Prevent Global Conflict. New York, NY: W. W. Norton & Company. ISBN 978-0393292398.
  4. ^ Yi, Gang, "Stein Estimation and Model Selection", ideals.illinois.edu, 1986.
  5. ^ "About SAFE". www.safe.gov.cn. Archived from the original on December 31, 2008. Retrieved 2023-03-25.
  6. ^ Top Chinese finance official delivers lecture at IUPUI, receives honorary degree. From rtsvideo RTVS Video Archive on May 17th, 2018. [1]
  7. ^ "Yi Gang 易纲", chinavitae.com. Retrieved 2015-11-23.
  8. ^ Mauldin, William, "China Takes Flak From Foreign Finance Officials at IMF, World Bank Meetings", Wall Street Journal, October 7, 2016. Retrieved 2016-10-08.
  9. ^ "十九届中央委员、候补委员、中央纪委委员名单-国际在线". China Radio International (in Chinese). Retrieved 2023-07-28.
  10. ^ "国务院副总理、国务委员、各部部长完整名单". Xinhua. 2018-03-19. Retrieved 2018-03-19.
  11. ^ "Members of China's Financial Stability and Development Committee Revealed". China Banking News. 4 July 2018. Retrieved 16 April 2020.
  12. ^ "Organizational Structure". CF40.

External links[edit]

Government offices
Preceded by Director of the State Administration of Foreign Exchange
2009–2016
Succeeded by
Preceded by Governor of the People's Bank of China
2018–2023
Succeeded by