BEIJING, Dec 27 — China named Yin Yong, a Harvard-educated official, today as a vice governor of the People's Bank of China, replacing Guo Qingping.

The State Council announced the promotion of Yin, who has been an assistant governor at the central bank since August 2015, on its website.

Yin holds a Phd in engineering from Tsinghua University and a Masters degree in public administration from Harvard University.

He had previously worked for the State Administration of Foreign Exchange — the foreign exchange regulator, responsible for managing the country's foreign exchange reserves.

His predecessor, Guo, became vice central governor in February 2015, and had been responsible for anti-money laundering operations. Though no reason was given for his departure, Guo turned 60 this year — the normal retirement age for officials of his rank. — Reuters