Will China’s new central banker fix the crisis?

China has named Pan Gongsheng as the new governor of its central bank, the People's Bank of China (PBOC). The country is experiencing challenging economic times, with sluggish consumer spending, a crisis in the property market, weakening exports, record youth unemployment, and high local government debt.

China's political leadership has played down the severity of its economic issues, but this new appointment shows signs that that might be changing.

(Picture: Pan Gongsheng, the new governor of China's central bank. Picture credit: Getty Images)