On June 28, it was announced Li Bo, currently Deputy Governor of the People's Bank of China (PBC), will assume the post of deputy managing director of the International Monetary Fund (IMF) on August 23.

"Mr. Li brings extensive experience in central banking and law," IMF Managing Director Kristalina Georgieva said in a statement, noting that during Li's over 14 years of service at the PBC from 2004 to 2018, he held a variety of senior positions, including head of the Legal and Regulation Department, and of two monetary policy departments.

From 2019 to 2021, Li served as vice mayor of Chongqing Municipality, overseeing the city's financial sector development, international trade, and foreign direct investment. He returned to the PBC in April to take up the position of deputy governor.