(Yicai) July 29 -- China International Capital Corporation, one of the country's leading investment banks, has named Managing Director Miao Yanliang, who was previously an economist at the International Monetary Fund and China’s foreign exchange regulator, as its new chief economist.

Miao will succeed Peng Wensheng, who has reached the statutory retirement age, the Beijing-based firm announced yesterday.

Prior to joining CICC in 2023, where he is also chief strategist, Miao served a decade at the State Administration of Foreign Exchange, specializing in macroeconomics and forex market research, after being an economist at the Washington-based IMF.

During his time at the IMF from 2008 to 2013, he worked in the emerging markets and debt policy departments among others, while also taking part in bailout work for the European sovereign debt crisis.

Miao was at the SAFE from 2013 to 2023, working as senior advisor to the director-general and head of research at the Central Foreign Exchange Business Center, where he conducted global economic and strategic research supporting forex reserve management. He was named its chief economist in 2018.

Earlier in his career, Miao was a visiting scholar and special assistant to Professor Stanley Fischer, governor of the Bank of Israel, with his research covering monetary policy and central bank institutional design. He also taught economics at Princeton University's Woodrow Wilson School of Public and International Affairs.

Editors: Tang Shihua, Martin Kadiev