Liu Guiping, deputy governor of the People’s Bank of China, is being transferred to a leadership position in Tianjin.
Liu will be vice mayor and a member of the Chinese Communist Party’s Standing Committee of the Tianjin Municipal Committee.
The banking veteran worked for the Agricultural Bank of China for 25 years, rising to become the head of its Fujian province and Shanghai branches. In 2014 he jumped ship to take on the role of vice general manager at sovereign wealth fund China Investment Corporation before moving into politics. He served as deputy mayor of Chongqing in southwest China from June 2016 to March 2019 where he was in charge of the municipality’s financial regulation and finance. He then returned to the financial sector as the president of China Construction Bank before joining the PBOC as vice governor in November 2020.