Chen Yuan | |
|---|---|
| 陈元 | |
| Vice Chairman of the Chinese People's Political Consultative Conference | |
| In office 11 March 2013 – 14 March 2018 | |
| Chairman | Yu Zhengsheng |
| Personal details | |
| Born | January 1945 (age 80) |
| Citizenship | People's Republic of China |
| Political party | Chinese Communist Party |
| Occupation | Chairman ofChina Association for International Friendly Contact |
Chen Yuan (Chinese:陈元, born in January 1945) is a Chineseeconomist who is the current chairman of theChina Association for International Friendly Contact (CAIFC).[1] He was previously the chairman of theChina Development Bank from March 1998 to April 2013. Chen Yuan then served asVice Chairman of the National Committee of the Chinese People's Political Consultative Conference from 2013 to 2018. He is the eldest son of formerVice PremierChen Yun.[2]: 63
Chen Yuan graduated with a master's degree in Industrial Economics from theGraduate School of Chinese Academy of Social Sciences, where he studied under the supervision of economistsYu Guangyuan andMa Hong. He was appointed secretary of theXicheng District Committee of theBeijing Municipal Committee of theChinese Communist Party (CCP) and director-general of the Beijing Municipal Commerce and Trade Department in August 1982.[citation needed] He assumed the post of deputy secretary of the leading party members' group and vice governor of thePeople's Bank of China in March 1988.[citation needed]
Chen was appointedChina Development Bank's governor in April 1998.[3]: 34 Chen implemented reforms designed to increase CDB's autonomy by reducing state involvement in CDB's fundraising and lending.[3]: 34
Following the2008 financial crisis, Chen was among the Chinese policymakers who favored China shifting from its traditionally passive management ofits foreign exchange reserves to a more active approach.[2]: 63 Chen's view was that China should hedge against increasing commodity prices and the falling US dollar by using its foreign exchange reserves to buy energy and mineral assets.[2]: 63
He has been the Chairman of theChina Finance 40 Forum (CF40) from its founding in 2008.[4][5]
Chen left his position as CDB governor in 2013.[3]: 157 CDB's institutional power declined after Chen left.[3]: 157
In 2013, Chen became a vice chair of the National Committee of theChinese People's Political Consultative Conference.[3]: 84
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