Liu Hongru, a deputy governor of the People’s Bank of China from 1980 to 1989, passed away on March 14.

A mostly under-the-radar figure, Liu was an influential official during China’s financial reforms in the 1980s that saw the transformation of the PBoC into a modern central bank.

Born in 1930, Liu joined the Chinese Communist party in 1948 and was selected by the state three years later to study finance at the Renmin University of China. He was again a beneficiary of the party’s initiatives to

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