Chou promoted to deputy governor of central bank

The nation's central bank announced yesterday that George Chou (周阿定), who serves as director-general of the monetary policymaker's foreign exchange department, will be promoted to fill the position of deputy governor.

Chou is to fill the vacancy left by Deputy Governor Liang Fa-chin (梁發進), who will retire on Feb. 15 after serving a five-year term.

After graduating with a degree in business administration from National Taiwan University, Chou, 65, joined the central bank in 1967.

He has worked in the central bank's economic research department and its foreign exchange department.

Chou also served as the bank's chief at its London representative office.

In 1998, Chou became the head of the central bank's foreign exchange department, helping bank Governor Perng Fai-nan (彭淮南) implement a policy to stabilize the currency market.

"In recent years, the exchange rates of the New Taiwan dollar have maintained dynamic stability to fuel economic growth," a bank press release issued yesterday said.

"As a result, transaction volumes of the foreign exchange market have grown," it said.

"As a policy-making member, Chou has made considerable contributions," it said.

Treasury Department Director-General Duann Jin-sheng (段金生) will be transferred to take Chou's post in the foreign exchange department.

Duann's position will be taken over by You Chin-tang (尤錦堂), the deputy director-general of the banking department.

The changes are scheduled to take effect on Feb. 15, the bank said.