Sources: Chongqing Vice Mayor Li Bo to be China’s top representative to the IMF

Beijing will appoint Li Bo, a Chongqing vice mayor with deep U.S. experience, as its top representative to the International Monetary Fund as it seeks to repair ties with the United States and gain a greater voice in the multilateral economy, the Wall Street Journal said Thursday, citing people familiar with the matter.

Li Bo is a veteran of China’s central bank and has been involved in drafting key regulations on money laundering, cross-border transactions and credit reporting, people familiar with the matter said. Li, who is currently vice mayor of Chongqing, will replace Zhang Tao as vice president of the International Monetary Fund, an appointment that could be announced as soon as this year after the National People’s Congress.

Li Bo, 49, holds a law degree from Harvard Law School and a doctorate in economics from Stanford University, and was recruited to China’s central bank in 2004, according to information.