Yi Gang to take over leadership of PBOC – report

Yi Gang to be named PBOC Governor

The Wall Street Journal reports that Yi Gang will take over the leadership of the People’s Bank of China from long-time governor

Zhou Xiaochuan.

Citing people familiar with the matter, the report says the final committees will rubber-stamp his nomination on Monday morning.

Markets are likely to cheer the choice of Yi. He’s an American-trained economist who has pushed for pro-market overhauls in the economy. Keep a close eye on Chinese equities to start the week.