"China`s top leaders have realised that a central bank governor is not only a financial official but also an important diplomat," University of Hong Kong economics professor Chen Zhiwu said.
Whether China will move towards an open and ordered market economy, based on the achievements of people such as central bank governor Zhou Xiaochuan, will be largely dependent on the new team`s ideas and capabilities.
Central bank governor Zhou Xiaochuan looks likely to remain in the post for a while as Beijing needs his experience and expertise more than ever to navigate uncharted financial waters, analysts said.
Few cadres inside China`s decision-making elite can do that better than Zhou, a fluent English speaker who has developed a reputation as a reformer in his 15 years at the helm of the central bank.
""He may personally want to retire to spend time doing research, giving lectures, writing books or just enjoying music," Chen said.
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