Zhou Xiaochuan, governor of the People's Bank of China, meets with IMF managing director Christine Lagarde at the 1+6 Roundtable at the Diaoyutai State Guesthouse on July 22, 2016 in Beijing. (Photo : Getty Images)
Central bank deputy governor Zhang Tao has formally taken up on Monday, Aug. 22, his duties as deputy managing director of the International Monetary Fund (IMF), indicating the country's growing influence on global financial management, according to analysts.
China Daily reported that Zhang's appointment to the position was announced on July 8 by Christine Lagarde, IMF managing director, who said that she was "very pleased" to nominate the Chinese official to the post.
IMF said in an earlier statement that Zhang has brought to the organization a strong combination of international economic knowledge, skills in public policymaking and diplomacy. He has also a wide experience working with international financial institutions and has excellent communication and negotiating skills as well as vast knowledge of IMF policies and procedures.
According to analysts, Zhang's appointment indicates the country's growing influence in the field of international financial governance.
"China has played a very important role in contributing to global economic growth and financial stability, and Zhang's appointment is in line with the rising clout," Guo Tianyong, a researcher at the Central University of Finance and Economics, said.
"Chinese should be part of the leadership of such major international organizations as the World Bank and the IMF," Guo added.
Before he joined China's central bank, Zhang worked at the World Bank, from 1995 to 1997, and the Asian Development Bank, from 1997 to 2004.
In a statement, Lagarde also commended Zhu's contributions, saying that the official "has performed a key role in the Fund's management team, providing immense support to me and our management colleagues."
With China's influence and contribution, Chinese experts should be given fixed senior positions in such organizations as the IMF and the World Bank, according to Guo of Central University.
A large number of talented people, mostly professionals with work experience abroad and returned to China, can qualify as competent candidates in the said organizations, Guo noted.
