China to name forex regulator Pan Gongsheng as central bank head

China plans to appoint Pan Gongsheng, a deputy governor of the People’s Bank of China (PBOC), to head the central bank, the Wall Street Journal reported on Friday, citing people unnamed familiar with the matter.

Pan Gongsheng, picked because of his international background, is likely to first be appointed as the bank’s Communist Party chief before he is installed as governor, which requires appointment by the government, the report said.

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Pan is the country's foreign exchange regulator as head of the State Administration of Foreign Exchange.

Reuters could not immediately reach the PBOC for comment