Xi Jinping’s surprise visit to the Central Bank of China

Chinese President Xi Jinping made a surprise visit to the Central Bank of China.

Xi Jinping made his first known visit to the Bank of China in his decade-long presidency, according to people familiar with the matter. Xi’s visit was interpreted as the government’s focus on supporting the economy and financial markets.

Sources who requested anonymity said Xi visited the People’s Bank of China (Central Bank of China) and the State Administration of Foreign Exchange in Beijing today, along with Vice Premier He Lifeng and other government officials. Sources said the vice prime minister also visited the China Wealth Fund.

FIRST VISIT

Although the details of the visits are unclear, investors are closely monitoring Xi’s visit as it gives several political signals.

Xi had never been to the Bank of China before. These inspections were usually carried out by the country’s prime ministers or their deputies.

Xi’s visit confirmed the Communist Party’s recent rhetoric about its “centralized and unified” leadership over the financial sector.

The People’s Bank of China and the China Wealth Fund did not respond to requests for comment.