China banking regulator, Hubei chief front runners to head central bank: sourcesBEIJING (Reuters) - China s top banking regulator Guo Shuqing and veteran banker Jiang Chaoliang are front runners to succeed Zhou Xiaochuan, the country s longest-serving central bank head who is likely to step down next year, according to multiple sources familiar with the matter.  The leadership reshuffle at the People s Bank of China (PBOC) is closely watched in global financial markets as monetary policy changes and any moves to further liberalize the financial system of the world s second-large economy would have repercussions well beyond China s shores. The 69-year-old Zhou has spearheaded financial reforms and boosted the yuan currency s global clout, as well as the central bank s policy influence, since taking up his post in 2002. Zhou is likely to retire around the time of the annual session of parliament next March, according to the seven sources with ties to the leadership and close to the central bank.  Guo, chairman of the China Banking Regulatory Commission (CBRC), whose rich experience and reformist credentials are similar to Zhou s, is seen as more qualified for the job, the sources said. However, Jiang, the Communist Party chief of Hubei province, has the backing of some top leaders and is seen as having a roughly equal chance of getting the post, they noted.  The PBOC and the CBRC did not respond to Reuters  requests for comment, while officials at Hubei Communist Party committee s propaganda department declined to comment.   Yi Gang, 59, a PBOC vice-governor who has a PhD in economics from the University of Illinois, is the leading in-house candidate to replace Zhou but is not seen as a frontrunner.  Yi is a well-trained economist who is supported by Zhou, but his background as a  sea turtle  - a colloquialism for Chinese who have returned from overseas - means he is less likely to gain the full trust of China s leaders, the sources said.  One of the sources, who correctly predicted a reshuffle of the country s top banking, securities and insurance regulators in 2011, said that Guo is most favored, helped by his understanding of the financial markets and the global economy.  His appointment would boost confidence,  the source added.      Guo, 61, was summoned back to Beijing in February to lead the CBRC after serving as governor of Shandong province for four years - his second regional stint after serving as a deputy governor of Guizhou province in the late 1990s. Under Guo s leadership earlier this year, the CBRC started what was widely dubbed a  regulatory windstorm  to force banks to cut debt, but he later eased up after the move fueled fears of a liquidity crunch. [nL4N1I63IR] Guo, a philosophy major and once a visiting scholar at Oxford University, has served as a deputy central bank governor and as the top foreign exchange regulator, and steered China Construction Bank Corp to a successful share listing. As a top stock market regulator, Guo cemented a reputation as an economic reformer. Still, Jiang, who has also alternated between top financial and provincial posts, remains a formidable challenger for Guo, the sources said. The 60-year-old Hubei party chief, who has had stints as an assistant central bank governor and head of China Development Bank, the country s largest policy bank, emerged as a possible successor to Zhou relatively recently. Jiang has been credited with helping to transform the state-owned Bank of Communications, which had been plagued by bad debt, into a bank with a stronger balance sheet that then listed in Hong Kong and Shanghai.  Jiang is not a dark horse, his resume is very good and he has been proved to be very capable,  said one of the sources. Whoever takes the helm of the central bank will face tough challenges as he will have to walk a tightrope between ensuring economic stability and pushing reforms to rein in debt risks. Zhou has been steering broad financial and currency reforms, loosened controls on interest rates and moved away from what had effectively been a yuan peg to the U.S. dollar - a step along the path to turning it into a global currency on a par with the greenback.  In terms of international investors, Guo may offer more continuity,  said Rob Subbaraman, Nomura s chief economist and head of global markets research for Asia-ex-Japan.   That s really what he represents - continuity of wanting to, over time, move to a more liberalized capital and financial market, and trying to ensure very good regulation and supervision.  Zhou stayed on past retirement age after he was appointed a vice chairman of the top advisory body to parliament in 2013, a move that made him a national leader.  The PBOC still has limited policy independence despite growing influence under Zhou.  Unlike western central banks, the PBOC does not have the final word on adjusting interest rates and the value of the yuan. The basic course of monetary and currency policy is set by the cabinet or by the Communist Party s ruling Politburo. worldnews
china banking regulator huge chief front runners head central bank sourcesbeijing reuters china top banking regulator guo shading veteran banker liang chaoliang front runners succeed hou xiaochuan country central bank head likely step next year according multiple sources familiar matter the leadership reshuffle people bank china proc closely watched global financial markets monetary policy changes moves liberalism financial system world economy would repercussions well beyond china shores the hou spearheaded financial reforms boosted yuan currency global clout well central bank policy influence since taking post hou likely retire around time annual session parliament next march according seven sources ties leadership close central bank guo chairman china banking regulatory commission cbc whose rich experience reformist credentials similar hou seen qualified job sources said however liang communist party chief huge province backing top leaders seen roughly equal chance getting post noted the proc cbc respond reuters requests comment officials huge communist party committee propaganda department declined comment yi gang proc phd economics university illinois leading candidate replace hou seen frontrunner yi economist supported hou background sea turtle colloquialism chinese returned overseas means less likely gain full trust china leaders sources said one sources correctly predicted reshuffle country top banking securities insurance regulators said guo favored helped understanding financial markets global economy his appointment would boost confidence source added guo summoned back beijing february lead cbc serving governor shading province four years second regional stint serving deputy governor guizhou province late under guo leadership earlier year cbc started widely dubbed regulatory windsor force banks cut debt later eased move fueled fears liquidity crunch guo philosophy major visiting scholar oxford university served deputy central bank governor top foreign exchange regulator steered china construction bank corp successful share listing as top stock market regulator guo cemented reputation economic reformer still liang also alternated top financial provincial posts remains formidable challenger guo sources said the huge party chief stints assistant central bank governor head china development bank country largest policy bank emerged possible successor hou relatively recently liang credited helping transform bank communications plagued bad debt bank stronger balance sheet listed hong kong shanghai liang dark horse resume good proved capable said one sources whoever takes helm central bank face tough challenges walk tightrope ensuring economic stability pushing reforms rein debt risks hou steering broad financial currency reforms worsened controls interest rates moved away effectively yuan peg dollar step along path turning global currency par greenback in terms international investors guo may offer continuity said rob subbaraman noma chief economist head global markets research that really represents continuity wanting time move liberalized capital financial market trying ensure good regulation supervision hou stayed past retirement age appointed vice chairman top advisory body parliament move made national leader the proc still limited policy independence despite growing influence hou unlike western central banks proc final word adjusting interest rates value yuan the basic course monetary currency policy set cabinet communist party ruling politburo worldnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: China banking regulator, Hubei chief front runners to head central bank: sourcesBEIJING (Reuters) - China s top banking regulator Guo Shuqing and veteran banker Jiang Chaoliang are front runners to succeed Zhou Xiaochuan, the country s longest-serving central bank head who is likely to step down next year, according to multiple sources familiar with the matter.  The leadership reshuffle at the People s Bank of China (PBOC) is closely watched in global financial markets as monetary policy changes and any moves to further liberalize the financial system of the world s second-large economy would have repercussions well beyond China s shores. The 69-year-old Zhou has spearheaded financial reforms and boosted the yuan currency s global clout, as well as the central bank s policy influence, since taking up his post in 2002. Zhou is likely to retire around the time of the annual session of parliament next March, according to the seven sources with ties to the leadership and close to the central bank.  Guo, chairman of the China Banking Regulatory Commission (CBRC), whose rich experience and reformist credentials are similar to Zhou s, is seen as more qualified for the job, the sources said. However, Jiang, the Communist Party chief of Hubei province, has the backing of some top leaders and is seen as having a roughly equal chance of getting the post, they noted.  The PBOC and the CBRC did not respond to Reuters  requests for comment, while officials at Hubei Communist Party committee s propaganda department declined to comment.   Yi Gang, 59, a PBOC vice-governor who has a PhD in economics from the University of Illinois, is the leading in-house candidate to replace Zhou but is not seen as a frontrunner.  Yi is a well-trained economist who is supported by Zhou, but his background as a  sea turtle  - a colloquialism for Chinese who have returned from overseas - means he is less likely to gain the full trust of China s leaders, the sources said.  One of the sources, who correctly predicted a reshuffle of the country s top banking, securities and insurance regulators in 2011, said that Guo is most favored, helped by his understanding of the financial markets and the global economy.  His appointment would boost confidence,  the source added.      Guo, 61, was summoned back to Beijing in February to lead the CBRC after serving as governor of Shandong province for four years - his second regional stint after serving as a deputy governor of Guizhou province in the late 1990s. Under Guo s leadership earlier this year, the CBRC started what was widely dubbed a  regulatory windstorm  to force banks to cut debt, but he later eased up after the move fueled fears of a liquidity crunch. [nL4N1I63IR] Guo, a philosophy major and once a visiting scholar at Oxford University, has served as a deputy central bank governor and as the top foreign exchange regulator, and steered China Construction Bank Corp to a successful share listing. As a top stock market regulator, Guo cemented a reputation as an economic reformer. Still, Jiang, who has also alternated between top financial and provincial posts, remains a formidable challenger for Guo, the sources said. The 60-year-old Hubei party chief, who has had stints as an assistant central bank governor and head of China Development Bank, the country s largest policy bank, emerged as a possible successor to Zhou relatively recently. Jiang has been credited with helping to transform the state-owned Bank of Communications, which had been plagued by bad debt, into a bank with a stronger balance sheet that then listed in Hong Kong and Shanghai.  Jiang is not a dark horse, his resume is very good and he has been proved to be very capable,  said one of the sources. Whoever takes the helm of the central bank will face tough challenges as he will have to walk a tightrope between ensuring economic stability and pushing reforms to rein in debt risks. Zhou has been steering broad financial and currency reforms, loosened controls on interest rates and moved away from what had effectively been a yuan peg to the U.S. dollar - a step along the path to turning it into a global currency on a par with the greenback.  In terms of international investors, Guo may offer more continuity,  said Rob Subbaraman, Nomura s chief economist and head of global markets research for Asia-ex-Japan.   That s really what he represents - continuity of wanting to, over time, move to a more liberalized capital and financial market, and trying to ensure very good regulation and supervision.  Zhou stayed on past retirement age after he was appointed a vice chairman of the top advisory body to parliament in 2013, a move that made him a national leader.  The PBOC still has limited policy independence despite growing influence under Zhou.  Unlike western central banks, the PBOC does not have the final word on adjusting interest rates and the value of the yuan. The basic course of monetary and currency policy is set by the cabinet or by the Communist Party s ruling Politburo. worldnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: china banking regulator huge chief front runners head central bank sourcesbeijing reuters china top banking regulator guo shading veteran banker liang chaoliang front runners succeed hou xiaochuan country central bank head likely step next year according multiple sources familiar matter the leadership reshuffle people bank china proc closely watched global financial markets monetary policy changes moves liberalism financial system world economy would repercussions well beyond china shores the hou spearheaded financial reforms boosted yuan currency global clout well central bank policy influence since taking post hou likely retire around time annual session parliament next march according seven sources ties leadership close central bank guo chairman china banking regulatory commission cbc whose rich experience reformist credentials similar hou seen qualified job sources said however liang communist party chief huge province backing top leaders seen roughly equal chance getting post noted the proc cbc respond reuters requests comment officials huge communist party committee propaganda department declined comment yi gang proc phd economics university illinois leading candidate replace hou seen frontrunner yi economist supported hou background sea turtle colloquialism chinese returned overseas means less likely gain full trust china leaders sources said one sources correctly predicted reshuffle country top banking securities insurance regulators said guo favored helped understanding financial markets global economy his appointment would boost confidence source added guo summoned back beijing february lead cbc serving governor shading province four years second regional stint serving deputy governor guizhou province late under guo leadership earlier year cbc started widely dubbed regulatory windsor force banks cut debt later eased move fueled fears liquidity crunch guo philosophy major visiting scholar oxford university served deputy central bank governor top foreign exchange regulator steered china construction bank corp successful share listing as top stock market regulator guo cemented reputation economic reformer still liang also alternated top financial provincial posts remains formidable challenger guo sources said the huge party chief stints assistant central bank governor head china development bank country largest policy bank emerged possible successor hou relatively recently liang credited helping transform bank communications plagued bad debt bank stronger balance sheet listed hong kong shanghai liang dark horse resume good proved capable said one sources whoever takes helm central bank face tough challenges walk tightrope ensuring economic stability pushing reforms rein debt risks hou steering broad financial currency reforms worsened controls interest rates moved away effectively yuan peg dollar step along path turning global currency par greenback in terms international investors guo may offer continuity said rob subbaraman noma chief economist head global markets research that really represents continuity wanting time move liberalized capital financial market trying ensure good regulation supervision hou stayed past retirement age appointed vice chairman top advisory body parliament move made national leader the proc still limited policy independence despite growing influence hou unlike western central banks proc final word adjusting interest rates value yuan the basic course monetary currency policy set cabinet communist party ruling politburo worldnews