PBOC official gets ready 'to assume helm' at ABC

Liu Shiyu, a vice-governor of the People's Bank of China, has been appointed as Party secretary of Agricultural Bank of China Ltd, the nation's third-largest lender by assets, media reports said.

The bank, in a regulatory filing to the Shanghai Stock Exchange on Monday, said an interim shareholders' meeting will be held on Dec 5 to elect Liu as the executive director of the board.

The 52-year-old Liu has served as vice-governor of the PBOC since June 2006. Before that, he worked at the office for economic reform restructuring in Shanghai, the former State commission for restructuring the economic system and China Construction Bank Corp from 1987 to 1996.