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Opinion

New Chinese central bank governor must navigate Xi's wishes

Yi Gang could well be a good captain, but will not be master of his own ship

| China
China's newly appointed central bank Gov. Yi Gang, left, has been deputy to his predecessor Zhou Xiaochuan for more than a decade   © Reuters

Yi Gang is as safe a choice to run the People's Bank of China as Beijing could have made. The U.S.-trained economist has been outgoing Gov. Zhou Xiaochuan's deputy for more than a decade and shares his determination to clean up the financial sector and modernize Asia's biggest economy.

Yet Yi will helm China's most powerful global institution in a shifting political environment that could be anything but safe for economic progress.

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