(Bloomberg) -- A former senior official from the Chinese central bank is under investigation for “suspected serious violation of laws and disciplines,” the Communist Party’s anti-graft watchdog said.
Sun Guofeng, who was removed from his post as head of the monetary policy department in May, is under disciplinary investigation, the Central Commission for Discipline Inspection said in a statement Wednesday.
Born in 1972, Sun joined the People’s Bank of China in 1996 and has spent most of his career at the monetary policy department. He’s been at the forefront of the PBOC’s transformation into a modern central bank over the years and took part in many key milestones, including creating the interbank bond market, launching open market operations, establishing the yuan exchange rate forming mechanism, and most recently, revamping the interest rates.
Sun holds a PhD degree in economics from the Chinese Academy of Social Sciences. He is a prolific writer, having published over 100 academic papers and two English books on China’s monetary policy and financial reforms. His last public appearance was in mid-April, when he attended a quarterly press briefing at the PBOC.
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