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IMF appoints Zhu as adviser

THE International Monetary Fund named Zhu Min, a deputy Chinese central bank governor, as special adviser to the fund chief, the latest move signaling China's rise in the global finance arena.

It is the highest IMF staff position to be held by a Chinese citizen. Zhu, 58, joined the People's Bank of China in 2009 after more than a decade as a senior executive of the Bank of China, and is expected to assume his IMF position on May 3.

IMF managing director Dominique Strauss-Kahn, notified the fund's executive board of his intention to appoint Zhu as his special adviser, a fund statement said.

"Mr. Zhu Min brings a wealth of experience in government and the financial sector, and I look forward to his counsel," Strauss-Kahn said.

"As special adviser, he will play an important role in working with me and my management team in meeting the challenges facing our global membership in the period ahead, and in strengthening the fund's understanding of Asia and emerging markets more generally," he said.

China hailed the move, saying it would pave the way for a strengthening cooperation between the IMF and emerging economics.


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