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Chinese economist

Zhou Xiaochuan (born 29 January 1948) is a Chinese economist. Zhou served as the governor of the People's Bank of China from 2002 to 2018. Zhou previously served as vice governor of the People's Bank of China, director of the State Administration of Foreign Exchange, governor of China Construction Bank, and chairman of the China Securities Regulatory Commission. He retired in 2018.

Born in Yixing, Jiangsu province, he was the son of Zhou Jiannan and Yang Weizhe (杨维哲). The elder Zhou was the head of Electric and Industrial Bureau of the North East district in 1949. He later became Vice Minister of First Department of Machinery Development in 1961. During the Cultural Revolution, Zhou Xiaochuan joined the Production and Construction Corps in Heilongjiang province while his father was persecuted. Zhou Xiaochuan graduated from Beijing Institute of Chemical Technology (now Beijing University of Chemical Technology) in 1975 and received a Ph. D. degree in Automation and Systems Engineering from Tsinghua University in 1985. From 1987 to 1988, he was a visiting scholar at the University of California, Santa Cruz, US.

In December 2002, he was appointed to his present position by Premier Zhu Rongji as governor of the People's Bank of China and also took over the position of chairman of monetary policy committee of the People's Bank of China from January 2003. Zhou also asserted China's increasing confidence in its own financial governance philosophies. He criticized Western leaders for letting their banking sectors go astray by loose regulations. In April 2011, Zhao publicly stated that China's foreign reserves had become excessive and recommended that reserves be reduced by instead capitalizing sovereign funds.

In March 2013, Zhou was reappointed as the governor of People's Bank of China. His reappointment came as "China's newly installed political chiefs headed by Communist Party general secretary Xi Jinping and Premier Li Keqiang." Earlier in Zhou's career, "as a protege of former Premier Zhu Rongji, [Zhou] helped draw up the blueprint to wean the economy off central planning." During a 5 March 2013 meeting of the National People's Congress and the Chinese People's Political Consultative Conference, Zhou announced the People's Bank of China would deal with the "ramifications of the excessive money supply and will gradually control the new money supply" because of the 2008 fourth quarter financial crisis. In September 2015, Zhou addressed the G 20 finance meeting in Ankara about the sharp, sustained drop in the Chinese stock market in 2015 and said that the "correction in the stock market is almost done." In October 2017, Zhou named three reforms he believed were crucial for China's economic future: scrapping capital account controls, letting the market freely decide the yuan's value and embracing free trade and investment.