PBOC Business Management Director Zhou Xuedong Succeeds Lu Lei as Director of Financial Stability Bureau
Dou Shicong
DATE:  Nov 01 2017
/ SOURCE:  Yicai
PBOC Business Management Director Zhou Xuedong Succeeds Lu Lei as Director of Financial Stability Bureau PBOC Business Management Director Zhou Xuedong Succeeds Lu Lei as Director of Financial Stability Bureau

(Yicai Global) Nov. 1 -- Zhou Xuedong, the People's Bank of China's director of business management department, has succeeded Lu Lei as the director of the Financial Stability Bureau (FSB).

Zhou served as the deputy director of the FSB and participated in handling the international financial crisis in 2008.

The State Council of People's Republic of China appointed Lu as the deputy director of the State Administration of Foreign Exchange (SAFE), creating a vacancy for director of the FSB. Zhou arrived at the bureau last week and took over as its director, Caijing Magazine reported yesterday.

Born in 1967, Zhou served at the Ministry of Land and Resources (MLR) and General Office of the State Council. After he came to the central bank, he successively served as deputy director of the FSB, director-general of the Department of Treaty and Law, president of the Nanjing Branch and director of the business management department.

Zhou's term in office as FSB deputy director coincided with the breakout of the global financial crisis in 2008, which he helped deal with. He aided China in carrying out financial institution reform and establishing a deposit insurance system. Zhou became director-general of the Department of Treaty and Law in November 2009. Eight years later, he rejoined the FSB as its director.

The FSB analyzes and evaluates systematic financial risks, and puts forward policies and suggestions to prevent and eliminate risk. When a major financial merger or acquisition emerges, FSB will evaluate its influence on national financial security and offer corresponding advice, per the central bank's website.

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Keywords:   Pboc,Financial Stability Bureau,Zhou Xuedong,2008 Financial Crisis