China's central bank, the People's Bank of China (PBOC), has undertaken a significant reshuffle of its monetary policy committee. The reshuffle includes the addition of Wu Qing, the head of the China Securities Regulator, and Xuan Changneng, the vice central bank governor, to the monetary committee. Furthermore, two new academic members, Huang Yiping from Peking University and Huang Haizhou from Tsinghua University, have been named to the committee. This move is part of a broader effort by the PBOC to revamp its approach to monetary policy. In related news, the PBOC conducted reverse repo operations, injecting 3 billion yuan through a 7-day reverse repo at a rate of 1.8% on Wednesday and 2 billion yuan on Thursday, with a net 1 billion yuan being drained from the market as 3 billion yuan came due. This represents the lowest amount of funds injected through reverse repos in open market operations since August 11, 2023. Additionally, Vice Governor Xuan Changneng remarked that China has ample monetary policy room, suggesting potential for further adjustments such as a Reserve Requirement Ratio (RRR) cut.