Du Jinfu: To be be promoted to PBOC vice governor

Du Jinfu, assistant governor of the People’s Bank of China (PBOC), or the central bank, has passed an internal review and will likely be promoted to the position of vice governor soon, according to a report posed on Caijing magazine’s website.

A source close to the central bank said that vice governor Su Ning, 63, may be appointed the new board chairman of China UnionPay, replacing the 68-year-old Liu Yanhuan, who has been in the post for six years. Another vice governor Ma Delun, 61, may go to a Hong Kong-based financial institution.

This personnel change represents a start of senior management level restructurings of the PBOC. Previously, the middle-level management of the PBOC has been undergoing intensive changes. Zhang Tao was appointed the head of the International Department. Xie Duo, former head of the International Department was moved to take charge of the Financial Market Department.

Du Jinfu, 56, graduated from the Banking School of Liaoning Academy of Finance & Economics. He once served as the head of the Financial Institution of the PBOC’s Inner Mongolia Branch. From 1999 to 2003, he worked in the Statistics Department of the PBOC as the deputy head and then the head. In 2003 he was appointed the head of the central bank’s Human Resource Department. In June 2006, he was promoted to the assistant governor of the PBOC.