Identifier
Created
Classification
Origin
07TAIPEI181
2007-01-24 05:45:00
UNCLASSIFIED
American Institute Taiwan, Taipei
Cable title:
Taiwan's New Central Bank Deputy Governor
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UNCLAS TAIPEI 000181
SIPDIS
SIPDIS
STATE PLEASE PASS USTR
STATE FOR EAP/RSP/TC, EAP/EP
USTR FOR ALTBACH and Stratford
USDOC FOR 3132/USFCS/OIO/EAP/WZARIT
TREASURY FOR OASIA/LMOGHTADER
TREASURY ALSO PASS TO FEDERAL RESERVE/BOARD OF
GOVERNORS, AND SAN FRANCISCO FRB/TERESA CURRAN
E.O. 12958: N/A
TAGS: EINV EFIN ECON PINR TW
SUBJECT: Taiwan's New Central Bank Deputy Governor
UNCLAS TAIPEI 000181
SIPDIS
SIPDIS
STATE PLEASE PASS USTR
STATE FOR EAP/RSP/TC, EAP/EP
USTR FOR ALTBACH and Stratford
USDOC FOR 3132/USFCS/OIO/EAP/WZARIT
TREASURY FOR OASIA/LMOGHTADER
TREASURY ALSO PASS TO FEDERAL RESERVE/BOARD OF
GOVERNORS, AND SAN FRANCISCO FRB/TERESA CURRAN
E.O. 12958: N/A
TAGS: EINV EFIN ECON PINR TW
SUBJECT: Taiwan's New Central Bank Deputy Governor
¶1. SUMMARY. Taiwan's Central Bank of China (CBC) will promote
Foreign Exchange Department (FED) Director General George Chou (Chou
A-ding) to be Deputy Governor (DG) in mid-February. CBC Governor
Perng Fai-nan's two deputies will now be career central bankers.
END SUMMARY.
¶2. An informed source of the CBC confirmed to AIT/T that Chou, 64,
will be promoted to be DG of the CBC on February 15 when incumbent
DG Liang Fa-chin, an academic economist, finishes his five-year term
of office. Chou, 64, joined the CBC Economic Research Department in
1967 and was reassigned to the FED in 1971. He moved up steadily to
Deputy Director General of the FED in 1992. He was sent to London
to serve as Taiwan's first Central Bank representative in May 1997.
Nine months later, he was promoted to Director General of the FED in
early March 1998 when an air accident at Taipei's International
Airport killed then CBC Governor Sheu Yuan-dong and FED Director
General Cyril Chen.
¶3. With Chou's promotion, both of the two DGs will be career
central bankers. The other incumbent DG (Hsu Yi-hsiung) had worked
for the CBC Banking Department for a long time before he was
promoted to DG in 1998.
¶4. In the past, the CBC Governor has been assisted by a career
central banker and an economist. Under this type of organization,
economists Shea Jia-dong and Hu Sheng-cheng had been DG of the CBC.
Both Shea and Hu had served as Director of the Institute of
Economics under Academia Sinica before they were appointed as DG of
the CBC. Currently, Shea is Chairman of the state-owned Central
Trust of China and Hu is Chairman of the Council for Economic
Planning and Development.
YOUNG