China’s leading investment bank has appointed Miao Yanliang as its new chief economist. Miao, who previously served as an economist at the International Monetary Fund and worked with China’s foreign exchange regulator, will take over the role from Peng Wensheng, who has reached retirement age.
Prior to joining the bank in 2023, where he also serves as the chief strategist, Miao spent ten years at the State Administration of Foreign Exchange. His focus was on macroeconomics and foreign exchange market research, after earlier working at the IMF in Washington.
While at the IMF from 2008 to 2013, Miao contributed to emerging markets and debt policy teams, and participated in efforts related to the European sovereign debt crisis.
His tenure at the foreign exchange authority from 2013 to 2023 saw him serve as a senior advisor to the director-general and lead researcher at the Central Foreign Exchange Business Center. His work involved conducting global economic and strategic analyses to support reserve management. In 2018, he was appointed the organization’s chief economist.
Earlier in his career, Miao was a visiting scholar and special assistant to Stanley Fischer, then governor of the Bank of Israel, focusing on monetary policy and central bank structure. He also held a teaching position in economics at Princeton University’s Woodrow Wilson School of Public and International Affairs.