The International Monetary Fund (IMF) has announced that China’s Vice-Finance Minister Liao Min will succeed Li Bo as a deputy managing director.
IMF Managing Director Kristalina Georgieva announced in a press release on the IMF website on Wednesday (28 October) that Liao Min had been proposed for the post of deputy managing director, with the appointment taking effect on 1 December. Li Bo will leave when his term ends on 30 November.
Public records show that Liao became a vice-minister of finance in 2018. He concurrently served as deputy director of the Office of the Central Commission for Financial and Economic Affairs from May 2018 to September 2023.
Before joining the Ministry of Finance, Liao worked in banking regulation and at institutions including the Bank of China and China Everbright Group. Between April 2003 and November 2016, he held posts including division-level official, deputy director and director of the General Office of the China Banking Regulatory Commission (CBRC); secretary of the Communist Youth League committee for the CBRC system; and party secretary and director of the CBRC’s Shanghai office.
He served as director of the Fourth Bureau of the Office of the Central Leading Group for Financial and Economic Affairs from November 2016 to March 2018, and as director of the Fourth Bureau of the Office of the Central Commission for Financial and Economic Affairs from March to May 2018.
According to The Paper, Liao is regarded as a scholar-official. His published works include Where Can Global Finance Find a New Balance? (《全球金融何处寻求再平衡》) and Macroprudential Regulation: Research and Practice (《宏观审慎监管研究与实践》). His research covers financial regulation, macroeconomic policy, and international trade and economic relations.
