Zhu Hexin, deputy governor of the People’s Bank of China and head of the State Administration of Foreign Exchange (SAFE), chaired a meeting of the agency’s Communist Party leadership group on Friday (30 October), after being “passed over” for promotion to full membership of the party’s Central Committee at its fifth plenary session.
SAFE said on its website that Zhu chaired the meeting that day to convey and study Communist Party General Secretary Xi Jinping’s important speech at the fifth plenary session of the 20th Central Committee and the key messages of the plenum, and to plan their implementation. Zhu is also secretary of SAFE’s party leadership group.
The meeting called on party organisations at all levels within SAFE, as well as party members and officials across the agency, to carefully study and understand Xi’s important speech and the key messages of the plenum, thoroughly study and implement his thinking on party building, and advance full and rigorous party self-governance through higher standards and more concrete measures. It also stressed the need to uphold the party Central Committee’s centralised, unified leadership over financial and foreign exchange work, guide party members and officials to strengthen their ideals and convictions and deepen their commitment to serving the people, and consciously uphold the political and people-centred nature of financial work.
The meeting also stressed the need to improve foreign exchange management systems and mechanisms to make them more convenient, open, secure and smart; advance deeper reforms and high-standard opening-up in the foreign exchange sector; safeguard foreign exchange market stability and national economic and financial security; crack down on illegal cross-border financial activities; and strengthen the capacity to manage foreign exchange reserves. These efforts would the country stays firmly on the path of financial development with Chinese characteristics.
In addition, the meeting stressed the need to build a high-calibre team of foreign exchange officials. It called for strict checks in selection and recruitment, with political standards given top priority, and thorough, substantive assessments of officials’ political qualities. It also called for the selection of the best candidates to strengthen leadership teams and fill leadership posts at all levels, and for the regular job rotation and exchange among officials, to ensure strong organisational backing for the high-quality development of China’s foreign exchange management.
The Chinese Communist Party held the fifth plenary session of its 20th Central Committee this week. The plenum’s communique, released on Thursday (29 October), announced that 10 alternate members had been promoted in order to full membership of the Central Committee. They included rising political figures born in the 1970s, such as Shanxi Governor Lu Dongliang and Zhejiang Governor Liu Jie.
Based on the original ranking of alternate Central Committee members elected at the party’s 20th National Congress, five people were “passed over” in this round of promotions: Fu Wenhua, deputy commander of the People’s Armed Police; Cong Liang, deputy director of the State Council’s Development Research Centre; Ji Lin, former chairman of the Beijing Municipal Committee of the Chinese People’s Political Consultative Conference and former secretary of the Central Institute of Socialism’s party leadership group; Zhu Wenxiang, lieutenant-general in the People’s Armed Police; and Zhu Hexin, deputy governor of the People’s Bank of China and head of the SAFE.
