Gongsheng Pan
Governor, People's Bank of China; Member, Board of Directors, Bank for International Settlements
Dr. Pan is the Governor of the People’s Bank of China (PBOC) and sits on the Board of Directors of the Bank for International Settlements. He joined the PBOC in 2012 as Deputy Governor.
Since joining the PBOC, Dr. Pan has been the main architect of key financial sector opening and reform in China, such as the Bond Connect and the Swap Connect programs, fintech regulation, and Basel III standards implementation. He has been deeply involved and played a pivotal role in the resolution of major financial risks in China. In addition, he has overseen the management of China’s foreign exchange reserves for almost eight years.
Dr. Pan was deeply involved in the reform of China’s state-owned banks. He was the Executive Director and Vice President of the Agricultural Bank of China (2008-2012). He had held various positions at the Industrial and Commercial Bank of China (ICBC) since 1993, including General Manager of Financial Planning Department, Director of ICBC Restructuring Office, and Secretary of the Board of Directors. He played an instrumental role in the successful restructuring and initial public offerings of both banks, and accumulated rich experience in dealing with international investors through roadshows and various other occasions. He is the author of many papers and articles and several books, including Metamorphosis: Road to Revival of Large Banks in China, which documented the historical process of state-owned bank reform in China and recounted his extensive engagement with the international financial community during that time.
Dr. Pan was born in July 1963. He received a Master’s Degree in Economics in 1990 and a PhD in Economics in 1993, both from Renmin University of China. He was a senior visiting scholar at Cambridge University from 1997 to 1998, and served as a senior research fellow at Harvard University in 2011. Dr. Pan has extensive research interest. Trained as a labor economist, he translated and published the Chinese version of Modern Labor Economics: Theory and Public Policy by Ronald Ehrenberg and Robert Smith in 1991, which has become a leading labor economics textbook in China.