Zhou Xiaochuan appointed Chairman of the BIS Asian Consultative Council

7 March 2005

Press release

The Board of Directors of the Bank for International Settlements (BIS) today announced Zhou Xiaochuan as Chairman of the BIS Asian Consultative Council (ACC). Mr Zhou is Governor of The People’s Bank of China.

Mr Zhou’s appointment is for a term of two years from March 2005. He succeeds Mr Joseph C K Yam, Chief Executive of the Hong Kong Monetary Authority, as ACC Chairman. Mr Yam chaired the Council from March 2003 to February 2005.

The ACC comprises the Governors of the BIS member central banks in the Asia-Pacific region.1 It was established in 2001 to provide a vehicle for communication between these central banks and the BIS Board and Management on matters of interest and concern to the Asian central banking community. The BIS Representative Office for Asia and the Pacific in Hong Kong SAR provides the secretariat services for the ACC.

1 The BIS member central banks represented in the ACC are those of Australia, China, Hong Kong SAR, India, Indonesia, Japan, Korea, Malaysia, New Zealand, the Philippines, Singapore and Thailand.