Zhu Min (economist)
Encyclopedia
Zhu Min is a Chinese economist and is currently Deputy Managing Director of the International Monetary Fund
. He was previously the inaugural Special Advisor to the Managing Director. Zhu previously held senior positions Bank of China
from 2003 to 2009 and was a Deputy Governor of the People's Bank of China
from 2009 to 2010.
He has published extensively on a wide range of macroeconomic management, financial regulation
and supervision, and financial market
issues. He is a guest lecturer at several university graduate school
s, and a frequent speaker at major global economic forums.
, China in 1952. He graduated from Fudan University
with a bachelor's degree
in Economics
in 1982, and gained a master's degree
in MPA from the Woodrow Wilson School of Public and International Affairs
at Princeton University
and a Ph.D in economics and an M.A. in economics from Johns Hopkins University
.
as an economist for six years from 1990 to 1996, and taught economics at both Johns Hopkins University
and Fudan University
. From 1995 to 1996, he worked as a Chief Technical Advisor for China's Agenda 21 at the United Nations Development Program. Zhu then held various positions at the Bank of China
starting in 1996, eventually rising to become group executive vice president, responsible for finance and treasury, risk management
, internal control
, legal and compliance
, and strategy and research. In 2009, he became a Deputy Governor of the People's Bank of China
and was responsible for international affairs, policy research, and credit information
.
(IMF) Dominique Strauss-Kahn
, in a move to strengthen the IMF's understanding of Asia and the emerging economies and to promote sustainable growth and financial stability. Zhu assumed his position on May 3, 2010.
On July 26 2011, Zhu assumed the position of Deputy Managing Director of the International Monetary Fund
.
Zhu thus become the second Chinese to take on a senior position in a top international financial institution after Justin Yifu Lin
, who was appointed vice president and chief economist
of the World Bank
in 2008. After the global financial crisis, China is expected to play more important role in the international community
and the IMF also stated that the organization called on giving more votes to China.
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
. He was previously the inaugural Special Advisor to the Managing Director. Zhu previously held senior positions Bank of China
Bank of China
Bank of China Limited is one of the big four state-owned commercial banks of the People's Republic of China. It was founded in 1912 by the Government of the Republic of China, to replace the Government Bank of Imperial China. It is the oldest bank in China...
from 2003 to 2009 and was a Deputy Governor of the People's Bank of China
People's Bank of China
The People's Bank of China is the central bank of the People's Republic of China with the power to control monetary policy and regulate financial institutions in mainland China...
from 2009 to 2010.
He has published extensively on a wide range of macroeconomic management, financial regulation
Financial regulation
Financial regulation is a form of regulation or supervision, which subjects financial institutions to certain requirements, restrictions and guidelines, aiming to maintain the integrity of the financial system...
and supervision, and financial market
Financial market
In economics, a financial market is a mechanism that allows people and entities to buy and sell financial securities , commodities , and other fungible items of value at low transaction costs and at prices that reflect supply and demand.Both general markets and...
issues. He is a guest lecturer at several university graduate school
Graduate school
A graduate school is a school that awards advanced academic degrees with the general requirement that students must have earned a previous undergraduate degree...
s, and a frequent speaker at major global economic forums.
Education
Zhu Min was born in ShanghaiShanghai
Shanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
, China in 1952. He graduated from Fudan University
Fudan University
Fudan University , located in Shanghai, is one of the oldest and most selective universities in China, and is a member of the C9 League. Its institutional predecessor was founded in 1905, shortly before the end of China's imperial Qing dynasty...
with a bachelor's degree
Bachelor's degree
A bachelor's degree is usually an academic degree awarded for an undergraduate course or major that generally lasts for three or four years, but can range anywhere from two to six years depending on the region of the world...
in Economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
in 1982, and gained a master's degree
Master's degree
A master's is an academic degree granted to individuals who have undergone study demonstrating a mastery or high-order overview of a specific field of study or area of professional practice...
in MPA from the Woodrow Wilson School of Public and International Affairs
Woodrow Wilson School of Public and International Affairs
The Woodrow Wilson School of Public and International Affairs is a professional public policy school at Princeton University. The school has granted undergraduate A.B. degrees since 1930 and graduate degrees since 1948...
at Princeton University
Princeton University
Princeton University is a private research university located in Princeton, New Jersey, United States. The school is one of the eight universities of the Ivy League, and is one of the nine Colonial Colleges founded before the American Revolution....
and a Ph.D in economics and an M.A. in economics from Johns Hopkins University
Johns Hopkins University
The Johns Hopkins University, commonly referred to as Johns Hopkins, JHU, or simply Hopkins, is a private research university based in Baltimore, Maryland, United States...
.
Career
Zhu worked at the World BankWorld Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
as an economist for six years from 1990 to 1996, and taught economics at both Johns Hopkins University
Johns Hopkins University
The Johns Hopkins University, commonly referred to as Johns Hopkins, JHU, or simply Hopkins, is a private research university based in Baltimore, Maryland, United States...
and Fudan University
Fudan University
Fudan University , located in Shanghai, is one of the oldest and most selective universities in China, and is a member of the C9 League. Its institutional predecessor was founded in 1905, shortly before the end of China's imperial Qing dynasty...
. From 1995 to 1996, he worked as a Chief Technical Advisor for China's Agenda 21 at the United Nations Development Program. Zhu then held various positions at the Bank of China
Bank of China
Bank of China Limited is one of the big four state-owned commercial banks of the People's Republic of China. It was founded in 1912 by the Government of the Republic of China, to replace the Government Bank of Imperial China. It is the oldest bank in China...
starting in 1996, eventually rising to become group executive vice president, responsible for finance and treasury, risk management
Risk management
Risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities...
, internal control
Internal control
In accounting and auditing, internal control is defined as a process effected by an organization's structure, work and authority flows, people and management information systems, designed to help the organization accomplish specific goals or objectives. It is a means by which an organization's...
, legal and compliance
Compliance (regulation)
In general, compliance means conforming to a rule, such as a specification, policy, standard or law. Regulatory compliance describes the goal that corporations or public agencies aspire to in their efforts to ensure that personnel are aware of and take steps to comply with relevant laws and...
, and strategy and research. In 2009, he became a Deputy Governor of the People's Bank of China
People's Bank of China
The People's Bank of China is the central bank of the People's Republic of China with the power to control monetary policy and regulate financial institutions in mainland China...
and was responsible for international affairs, policy research, and credit information
Credit (finance)
Credit is the trust which allows one party to provide resources to another party where that second party does not reimburse the first party immediately , but instead arranges either to repay or return those resources at a later date. The resources provided may be financial Credit is the trust...
.
International Monetary Fund
On February 24, 2010, Zhu was appointed as Special Advisor to Managing Director of the International Monetary FundInternational Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
(IMF) Dominique Strauss-Kahn
Dominique Strauss-Kahn
Dominique Gaston André Strauss-Kahn , often referred to in the media, and by himself, as DSK, is a French economist, lawyer, politician, and member of the French Socialist Party...
, in a move to strengthen the IMF's understanding of Asia and the emerging economies and to promote sustainable growth and financial stability. Zhu assumed his position on May 3, 2010.
On July 26 2011, Zhu assumed the position of Deputy Managing Director of the International Monetary Fund
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
.
Zhu thus become the second Chinese to take on a senior position in a top international financial institution after Justin Yifu Lin
Justin Yifu Lin
Justin Yifu Lin , born as Zhengyi Lin, on October 15, 1952, in Yilan, Taiwan, is a Chinese economist and Chief Economist and Senior Vice President of the World Bank.-Career and education:...
, who was appointed vice president and chief economist
Chief economist
The Chief Economist is a single position job class having primary responsibility for the development, coordination, and production of economic and financial analysis...
of the World Bank
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
in 2008. After the global financial crisis, China is expected to play more important role in the international community
International community
The international community is a term used in international relations to refer to all peoples, cultures and governments of the world or to a group of them. The term is used to imply the existence of common duties and obligations between them...
and the IMF also stated that the organization called on giving more votes to China.
Career timeline
- 2011—present: Deputy Managing Director, International Monetary FundInternational Monetary FundThe International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
- 2010—2011: Special Advisor to the Managing Director, International Monetary FundInternational Monetary FundThe International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
- 2009—2010: Deputy Governor, People's Bank of ChinaPeople's Bank of ChinaThe People's Bank of China is the central bank of the People's Republic of China with the power to control monetary policy and regulate financial institutions in mainland China...
- 2003—2009: Executive Assistant President, Bank of China (Hong Kong) Limited
- 2002—2003: General Manager, Bank of China (Hong Kong) Limited, Restructuring and Listing Office
- 2001—2002: General Manager, Bank of China (Hong Kong) Limited
- 1998—2002: General Manager, Institute of International FinanceInstitute of International FinanceThe Institute of International Finance, Inc. is the world's only global association of financial institutions. It was created by 38 banks of leading industrialised countries in 1983 in response to the international debt crisis of the early 1980s...
- 1998—2002: Head, Bank of China (Hong Kong) Limited, Project Office; Graduate, Johns Hopkins University USA, Maryland, Baltimore (Received Doctorate)
- 1990—1996: Consultant, The World BankWorld BankThe World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
; Graduate, Princeton UniversityPrinceton UniversityPrinceton University is a private research university located in Princeton, New Jersey, United States. The school is one of the eight universities of the Ivy League, and is one of the nine Colonial Colleges founded before the American Revolution....
USA, New Jersey, Princeton (Received Master's Degree) - 1982: Graduate, Fudan UniversityFudan UniversityFudan University , located in Shanghai, is one of the oldest and most selective universities in China, and is a member of the C9 League. Its institutional predecessor was founded in 1905, shortly before the end of China's imperial Qing dynasty...
, Shanghai Municipality