IMF names first Chinese deputy managing director

Min Zhu Image copyright AFP
Image caption Zhu Min has been a special adviser to the IMF since May 2010

China has secured its first top-level post at the International Monetary Fund (IMF) in recognition of its growing power in the global economy.

New IMF Managing Director Christine Lagarde appointed Zhu Min to a newly created deputy managing director post.

Last week, Ms Lagarde said she would go ahead with reforms to give emerging markets greater sway at the lender.

She also said White House aide David Lipton would succeed John Lipsky as her top deputy at the end of August.

Mr Zhu is a former deputy governor of the People's Bank of China and has been a special adviser to the IMF for the past year.

"Min Zhu brings a wealth of experience in government, international policy making and financial markets, strong managerial and communication skills as well as an institutional understanding of the Fund, and I look forward to his counsel," Ms Lagarde said.

"As deputy managing director, he will play an important role in working with me and the rest of my management team in meeting the challenges facing our global membership in the period ahead, and in strengthening the Fund's understanding of Asia and emerging markets more generally."

Ms Lagarde was widely expected to appoint Mr Zhu to a high-ranking post after China supported her candidacy for the IMF's top job.

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