IMF to Appoint Finance Vice Minister Liao Min as Deputy Managing Director, Succeeding Li Bo

October 28: According to Shanghai Securities News, IMF Managing Director Kristalina Georgieva announced that Deputy Managing Director Li Bo will leave at the end of his term on November 30, 2026, and proposed that Chinese Vice Minister of Finance Liao Min succeed him, with the appointment effective from December 1.

Liao Min was born in 1968 and has served as Vice Minister of Finance since May 2018; since 2023 he has concurrently been a member of the People's Bank of China Monetary Policy Committee. He has worked at the People's Bank of China, China Everbright Group and Bank of China, and also served as Director General of the General Office of the former China Banking Regulatory Commission and as Head of the Shanghai Banking Regulatory Bureau.

Li Bo became IMF Deputy Managing Director in August 2021. In that role he was responsible for work related to about 90 member countries and led work on digital currency, cross-border payments, stablecoin regulation and artificial intelligence.