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Bank of International Settlements appoints former PBOC deputy governor as first Chinese APAC chief representative
- Zhang Tao is joining the Bank of International Settlements (BIS) as its Asia-Pacific chief representative
- Based in Hong Kong, the former PBOC deputy governor becomes the first Chinese to take such senior role
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The Bank of International Settlements (BIS) has appointed former People’s Bank of China deputy governor Zhang Tao as it Asia-Pacific chief representative, making him the first Chinese to occupy a senior position in an institution dubbed the central bank of the world’s monetary authorities.
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Zhang will start at the bank’s Hong Kong office on June 14, where his role will be to “strengthen and deepen cooperation between the BIS, central banks and regulatory agencies in the Asia and the Pacific,” according to a press statement.
Zhang joined the BIS from the state-owned People’s Insurance Company of China (PICC), where he was chairman. Holding a doctorate in international economics from the University of California at Santa Cruz, Zhang was formerly the deputy managing director of the International Monetary Fund (IMF) from 2016 to 2021, and a former deputy governor at the Chinese central bank.
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“As a veteran public policymaker with ample experience in international financial institutions, Tao also has extensive knowledge in macroeconomics and central banking as well as a profound understanding of the Asia-Pacific region,” said the BIS’ general manager Agustin Carstens. “He is very well placed to expand and deepen the BIS collaboration with regional central banks and regulatory agencies and to strengthen our operational resilience in a region that is increasingly important for the global economy and for the BIS.”
Zhang will initially work along the BIS’ regional representative Siddharth Tiwari, who will leave the bank in August, having started in the position in November 2018.
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