Liao Min, Deputy Minister of Finance, Nominated for IMF Deputy Managing Director

IMF Managing Director Kristalina Georgieva announced the nomination of Liao Min, currently the Deputy Minister of Finance in China, as the IMF’s new Deputy Managing Director, to take effect on December 1, 2023. Liao Min would become the fourth Chinese national to hold the position of IMF Deputy Managing Director, and previously served as the Chief of the Shanghai Banking Regulatory Bureau among other roles.

Minister of Finance of China, Lai Ming, was nominated as Deputy Managing Director of the International Monetary Fund (IMF) by Managing Director Kristalina Georgieva. Lai Ming's tenure as Deputy Managing Director will commence on December 1, after the expiry of Li Bo's term on November 30. Lai Ming, 58 years old, will become the fourth Chinese Deputy Managing Director at the IMF. He previously served at the People's Bank of China, China光大集团, and the headquarters of the China Banking and Insurance Regulatory Commission (CBIRC). From 2003 to 2018, he held positions including Director of the Office of the CBIRC and Director of the Shanghai Banking and Insurance Regulatory Bureau.

Lai Ming joined the State Administration of Foreign Exchange (SAFE), the predecessor of the CBIRC, in 2003. Prior to his current role at the Ministry of Finance, he held several positions within the financial supervision system, demonstrating his extensive experience and expertise. His nomination highlights the growing influence of Chinese officials in global financial governance.