Five positions on the Monetary Policy Committee of the People's Bank of China have been filled, according to a government website announcement on Wednesday.

The newly installed members are Xiao Jie, deputy secretary-general of the State Council, Wang Bao'an, vice-minister of finance, Pan Gongsheng, vice-president of the People's Bank of China, Xiao Gang, chairman of the China Securities Regulatory Commission, and Hu Huaibang, chairman of the China Banking Association

The replaced members are You Quan, appointed Party chief in Fujian province in December; Li Yong, who became the seventh secretary-general of the United Nations Industrial Development Organization in June; Du Jinfu, commissioner of the Discipline Inspection of the China Banking Regulatory Commission; Guo Shuqing, governor of Shandong province and Jiang Jianqing, chairman of the Industrial and Commercial Bank of China Ltd.