China has appointed Ma Delun vice governor of the central bank, the Shanghai Securities News reported Wednesday.

The 58-year-old replaced Xiang Junbo who had been appointed to head the State-owned Agricultural Bank of China in June 2007, said he report. Before the promotion, he was the assistant governor of the central bank.

An anonymous official with the central bank confirmed the report to Xinhua. He added the appointment hadn't been formally announced by the Ministry of Personnel.

"The central bank's monetary policy will scarcely target asset prices" though it would keep a close watch on the stock and housing markets, Ma was quoted by the China Securities Journal as saying last year.

Ma had previously been the central bank spokesman and vice director of the State Administration of Foreign Exchange.

The central bank, also known as the People's Bank of China, currently has five vice governors and two assistant governors.