The State Council announced new members of the Monetary Policy Committee of People’s Bank of China (PBOC), China’s central bank, on June 15.

Yi Gang, governor of the central bank, was appointed as chairman of the committee.

Other 13 members are composed of officials from the State Council, PBOC, National Development and Reform Commission, Ministry of Finance, National Bureau of Statistics, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, State Administration of Foreign Exchange, China Association of Banks, China Development Research Foundation and two experts from Renmin and Tsinghua universities.