China kept its central bank governor and finance minister in their posts on Sunday, an unexpected move at the annual session of the rubber-stamp parliament, during which they had been expected to be replaced.
Yi Gang, 65, was approved by the National People’s Congress to remain governor of the People’s Bank of China and Liu Kun, 66, to stay on as finance minister. “The global economic outlook is challenging. Continuity and stability in the leadership of economic and financial affairs are helpful to boost market confidence,” Zhang said.
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