Chen Yuan

For other people named Chen Yuan, see Chen Yuan (disambiguation).
In this Chinese name, the family name is Chen.
Chen Yuan
陈元
Vice Chairman of the Chinese People's Political Consultative Conference
In office
11 March 2013 – 14 March 2018
ChairmanYu Zhengsheng
Personal details
BornJanuary 1945 (age 79)
Qingpu District, Jiangsu, China
CitizenshipPeople's Republic of China
Political partyChinese Communist Party
OccupationChairman of China Association for International Friendly Contact
Movements in contemporary
Chinese political thought
Liberalism
Neoauthoritarianism
New Left

Chen Yuan (Chinese: 陈元, born in January 1945) is a Chinese economist who is the current chairman of the China Association for International Friendly Contact (CAIFC).[1] He was previously the chairman of the China Development Bank from March 1998 to April 2013. Chen Yuan then served as Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference from 2013 to 2018. He is the eldest son of former Vice Premier Chen Yun.[2]: 63 

Biography

Chen Yuan graduated with a master's degree in Industrial Economics from the Graduate School of Chinese Academy of Social Sciences, where he studied under the supervision of economists Yu Guangyuan and Ma Hong. He was appointed secretary of the Xicheng District Committee of the Beijing Municipal Committee of the Chinese Communist Party (CCP) and director-general of the Beijing Municipal Commerce and Trade Department in August 1982.[citation needed] He assumed the post of deputy secretary of the leading party members' group and vice governor of the People's Bank of China in March 1988.[citation needed]

Chen was appointed China Development Bank's governor in April 1998.[3]: 34  Chen implemented reforms designed to increase CDB's autonomy by reducing state involvement in CDB's fundraising and lending.[3]: 34 

Following the 2007-2008 global financial crisis, Chen was among the Chinese policymakers who favored China shifting from its traditionally passive management of its foreign exchange reserves to a more active approach.[2]: 63  Chen's view was that China should hedge against increasing commodity prices and the falling US dollar by using its foreign exchange reserves to buy energy and mineral assets.[2]: 63 

He has been the Chairman of the China Finance 40 Forum (CF40) from its founding in 2008.[4][5]

Chen left his position as CDB governor in 2013.[3]: 157  CDB's institutional power declined after Chen left.[3]: 157 

In 2013, Chen became a vice chair of the National Committee of the Chinese People's Political Consultative Conference.[3]: 84 

References

  1. ^ "陈元 - 会长 - 中国国际友好联络会". China Association for International Friendly Contact. Retrieved 2022-12-26.
  2. ^ a b c Liu, Zongyuan Zoe (2023). Sovereign Funds: How the Communist Party of China Finances its Global Ambitions. The Belknap Press of Harvard University Press. doi:10.2307/jj.2915805. ISBN 9780674271913. JSTOR jj.2915805.
  3. ^ a b c d e Chen, Muyang (2024). The Latecomer's Rise: Policy Banks and the Globalization of China's Development Finance. Ithaca and London: Cornell University Press. ISBN 9781501775857.
  4. ^ "Organizational Structure". CF40.
  5. ^ Michael Forsythe, Henry Sanderson (June 2011). "Financing China Costs Poised to Rise With CDB Losing Sovereign-Debt Status". Bloomberg Market Magazine.