# Exclusive: China to name finance veteran Zhu as new forex chief - sources

> Reuters reported that China plans to name finance veteran Zhu as its new forex chief, citing sources. The yuan has lost nearly 3.5% against the dollar this year but firmed about 2% in the past week. Capital outflows from China reached $75 billion in September, the largest monthly figure since 2016.

- Date: 2023-11-22 · published 2023-11-22T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/33393-exclusive-china-to-name-finance-veteran-zhu-as-new-forex-chief-sources
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A leadership change at the foreign exchange regulator may shape future yuan management and capital flow policy. This affects China's import purchasing power, but the direct effect on feed commodity prices is small.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2024-01-05 | [Exclusive: China's state banks act to stem yuan slide onshore and offshore -sources](https://feedsoft.ai/events/32357-exclusive-china-s-state-banks-act-to-stem-yuan-slide-onshore-and-offshore.md) | +0.1% | +0.5% |
| USDCNY | 2023-09-14 | [Exclusive: China asks big banks to stagger and adjust dollar purchases, sources say](https://feedsoft.ai/events/34327-exclusive-china-asks-big-banks-to-stagger-and-adjust-dollar-purchases-sources.md) | +0.2% | +0.4% |
| USDCNY | 2018-07-04 | [Exclusive: China to be less interventionist on yuan than in 2015 - sources \| Reuters](https://feedsoft.ai/events/64269-exclusive-china-to-be-less-interventionist-on-yuan-than-in-2015-sources-reuters.md) | +0.6% | +2.7% |
| USDCNY | 2016-11-18 | [Exclusive - China ready to slow yuan descent, worried about capital outflows: sources](https://feedsoft.ai/events/74060-exclusive-china-ready-to-slow-yuan-descent-worried-about-capital-outflows.md) | +0.7% | +1.3% |
| USDCNY | 2025-05-01 | [EXCLUSIVE: China's central bank asks state lenders to reduce dollar purchases, sources say](https://feedsoft.ai/events/25347-exclusive-china-s-central-bank-asks-state-lenders-to-reduce-dollar-purchases.md) | -0.6% | -1.2% |

## Sources

- reuters.com: https://www.reuters.com/world/china/china-name-finance-veteran-zhu-new-forex-chief-sources-say-2023-11-22/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.