The People's Bank of China (PBOC), the country's central bank, unveiled its new currency policy committee Monday, which acts as a consultant to the bank.

Zhou Xiaochuan, governor of the bank, serves as chairman of the committee, while 12 other high-ranking economic and financial officials or experts were appointed as its remaining members.

They include You Quan, deputy-secretary general of the State Council, the central government, Zhu Zhixin, vice-minister in charge of State Development and Reform Commission, and Jin Liqun, vice-minister of finance.

The other members include two central bank vice-governors, Li Deshui, director of National Bureau of Statistics, Guo Shuqing, director of State Administration of Foreign Exchange, Liu Mingkang, chairman of China Banking Regulatory Commission, Shang Fulin, chairman of China Securities Regulatory Commission, Wu Dingfu, chairman of China Insurance Regulatory Commission, and Xiao Gang, president of China Association of Banks and governor of the Bank of China.

Li Yang, director of the Institute of Finance under the Chinese Academy of Social Sciences, also sits on the committee.

Leading officials with the central bank said it was the first time that the deputy-secretary general of the State Council in charge of financial affairs was included in the committee.

China Banking Regulatory Commission and China Association of Banks were also included in the committee for the first time.

The committee was initially set up in July 1997.

(People's Daily June 17, 2003)