Foreign Minister China Gang, whose situation is a matter of curiosity since he has not appeared in public for a while, was dismissed and Wang Yi, Director of the Foreign Relations Commission of the Chinese Communist Party (CCP), was appointed. Pan Gongshing was appointed as Governor of the People’s Bank of China.
With the decision taken at the 4th session of the Standing Committee of the 14th National People’s Congress, the Chinese Foreign Minister and Central Bank Governor were changed.
The committee dismissed China’s Foreign Minister, who had not appeared in public for a while, and appointed Wang as his replacement. Central Bank Governor Yi Gang was also dismissed and replaced by Pan Gongshing.
Chinese President Xi Jinping signed a presidential decree confirming the decisions taken.
On the other hand, the Chinese Foreign Ministry did not make any statement about the situation of the former minister in China.
China Gang has been missing since June 25
At a time when China’s diplomatic contacts increased, it was noteworthy that the Foreign Minister, China Gang, who was dismissed today, has not appeared before the public since 25 June. Appointed as the Minister of Foreign Affairs in December 2022, China did not appear before the public after a press conference after meeting with Sri Lankan, Russian and Vietnamese officials in Beijing on 25 June.
It was claimed that discussions about the Minister’s absence were censored on the Chinese social networking site Weibo, and journalist and analyst Phil Cunningham said that five paragraphs about the Minister China were removed without informing him from his article he wrote for the South China Morning Post (SCMP) on US-China relations.
Chinese experts have made claims that China’s relationship with a Hong Kong speaker may be behind the situation in question.
The Southeast Asian Nations Association (ASEAN) Foreign Ministers-level meeting held in Indonesia’s capital, Jakarta, on July 11-14, was attended by CCP Central Foreign Relations Commission Office Director Vang Yi instead of China Gang. It was stated that China could not attend the ASEAN meeting due to health problems.
The minister also did not attend the meetings with US Treasury Secretary Janet Yellen on 6-9 July, as well as the meeting between Chinese President Xi Jinping and Solomon Islands Prime Minister Manasseh Sogavare on 10 July.
The visit of the European Union (EU) High Representative for Foreign Relations and Security Policy Josep Borrell, scheduled for 10 July in Beijing, was cancelled.
Appointment to the Presidency of the Central Bank.
After Yi Gang’s retirement, Pan Gongshing was appointed as the Governor of the People’s Bank of China. The 60-year-old Pan was serving as the Deputy Governor of the Central Bank.
Pan joined the People’s Bank of China in 2012, and previously served at public banks Industrial and Commercial Bank of China and Agricultural Bank of China.
The appointment, made at a time when the economic recovery has lost momentum and officials are struggling to restore confidence, is seen as a signal that Beijing prioritizes policy continuity. During her 4-day visit to Beijing earlier this month, US Treasury Secretary Janet Yellen met with officials, including Pan, on economic and financial issues.
Revitalizing the weak economy, which also puts pressure on financial markets and companies, will be among Pan’s priorities. Investors are demanding more monetary stimulus even as China cut loan rates in June. Former Fed Chairman Yi was following a more cautious monetary policy due to financial risks.
It is known that after the crisis in the real estate sector, Pan had a more hawkish view on regulation in the sector.