IMF Proposes Liao Min to Succeed Bo Li as Deputy Managing Director

International Monetary Fund (IMF) Managing Director Kristalina Georgieva proposed China's Vice Minister of Finance Liao Min to succeed Bo Li, whose IMF portfolio included digital currencies, cross-border payments and stablecoin regulation.

The proposed change is set for Dec. 1, after Li's term ends Nov. 30. Li has served as a deputy managing director since August 2021, with responsibility for work involving about 90 member countries.

His work also included artificial intelligence-related issues.

Liao has served as China's vice minister of finance since May 2018 and joined the People's Bank of China's Monetary Policy Committee in 2023. He previously worked at the People's Bank of China, China Everbright Group and Bank of China. He also held roles as director of the general office of the former China Banking Regulatory Commission and head of the Shanghai Banking Regulatory Bureau.