China vice finance minister named central bank monetary panel member

BEIJING (Reuters) - China has named Zou Jiayi, a vice finance minister, as a member of the central bank's monetary policy committee, the cabinet said on Monday.

Zou will replace Liu Wei, head of China's national social security fund, who was previously a vice finance minister, the State Council said in a statement.

The 14-member policy committee, chaired by People's Bank of China chief Yi Gang, meets once every quarter to discuss economic and policy issues. The panel can recommend changes or action when necessary, but its influence is limited.

(Reporting by China Monitoring Deska and Kevin Yao; Editing by Richard Borsuk)