Former ABC vice president joins central bank

BEIJING - Pan Gongsheng, the former vice president of the Agricultural Bank of China (ABC), has joined the People's Bank of China (PBOC), the country's central bank, as its vice president, according to updated information on the PBOC's website.

Pan's name appeared on the central bank's column of leading officials on Saturday.

The position change followed an ABC announcement on Friday that Pan has resigned from the ABC "in line with the needs of State financial work."

The resignation was effective Friday afternoon, the ABC said in a statement posted on the website of the Hong Kong Exchanges and Clearing Ltd., operator of the Hong Kong Stock Exchange, where the bank is listed.

Pan, 48, was also executive director of the ABC and a member of the Strategic Planning Committee of the board prior to his resignation, according to the statement.