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Chinese finance minister resigns for `personal reasons'

Chinese Finance Minister Jin Renqing (金人慶) has resigned for "personal reasons," the government said yesterday, amid concerns over surging inflation and just weeks ahead of an expected reshuffling of top positions.

The State Council has transferred Jin to a government think tank, where he will be deputy chief, a ministerial-level position.

No other details were given in the statement, which comes after several days of rumors that Jin would step down. He has been finance minister since 2003.

"For personal reasons, Jin Renqing requested to resign. The central government agreed to his request and approved appointing him to be deputy director of the Development Research Center of the State Council," a spokeswoman for the State Council said on routine condition of anonymity.

Jin, 63, is one of about 200 members of the Chinese Communist Party's Central Committee and formerly headed the State Administration of Taxation. He is also a former vice governor of Yunnan Province and a former vice mayor of Beijing.

There was no immediate word on what factors had influenced Jin's resignation. He is still two years below the official retirement age for officials at the central government level.

Asked on Wednesday about rumors of Jin's departure, Central Bank Vice Governor Su Ning (蘇寧) said monetary policy would not be affected by personnel changes at the Finance Ministry.

The official Xinhua news agency said that Xie Xuren (謝旭人), 59, director of the State Administration of Taxation, had replaced Jin.

Xie has been director of the tax administration since March 2003, Xinhua said. He is also an alternative member of the party's Central Committee.
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