Zhou Qiren (BAI PENGHUI)	Xia Bin (DING XU)	Li Daokui (LI GANG)

The People's Bank of China, the central bank, announced on March 29 the appointments of three new scholars to the bank's monetary policy committee.

The three economists—Zhou Qiren, Xia Bin and Li Daokui—will replace Fan Gang to advise the central bank on major monetary issues. All have studied overseas, and Zhou and Li have received PhD degrees from prestigious U.S. universities.

The appointment of three economists this year—instead of one—indicates the increasing importance of academic voices in monetary policymaking. The trio, with different backgrounds, are expected to strengthen the committee in terms of monetary policy consultancy.

Born in 1950, Zhou Qiren, specialized in rural and economic system reforms, is a professor of economics and Dean of the National School of Development at Peking University. He believes market demand is the real propulsive force of economic growth and now it is time for China to withdraw economic stimulus measures. Zhou obtained his Master's and PhD degrees from the University of California, Los Angeles.

Born in 1951, Xia Bin is Director of the Development Research Center of the State Council. He is knowledgeable in capital markets, financial institutions, money supply and private equity. Xia has been appointed to various key government and think-tank positions in these fields. He graduated from the Graduate School of the People's Bank of China in 1984.

Born in 1965, Li Daokui is Director of the Center for China in the World Economy at Tsinghua University. He obtained a PhD degree from Harvard University in 1992 and has held various research and teaching positions in the United States and Hong Kong. He specializes in macro-economic research, corporate finance, and economics of transition.