Guo Zhenqian

In thisChinese name,thefamily nameisGuo.

Guo Zhenqian
Quách chấn càn
Auditor General of theNational Audit Office
In office April 1994 – March 1998
Preceded by	Lü Peijian
Succeeded by	Li Jinhua
Vice Governor of thePeople's Bank of China
In office February 1990 – July 1993
Governor	Li Guixian
Governor ofHubei
In office December 1985 – February 1990 (acting until May 1986)
Party Chief	Guan Guangfu
Preceded by	Huang Zhizhen
Succeeded by	Guo Shuyan
Personal details
Born	February 1933 Luoning County,Henan,China
Died	13 August 2019(2019-08-13)(aged 86) Beijing,China
Resting place	Babaoshan Revolutionary Cemetery
Political party	Chinese Communist Party
Alma mater	Renmin University of China
Chinese name
Chinese	Quách chấn càn
Transcriptions Standard Mandarin Hanyu Pinyin Guō Zhènqián Wade–Giles Kuo Chen-ch'ien IPA [kwó ʈʂə̂ntɕʰjɛ̌n]

Guo Zhenqian(Chinese:Quách chấn càn;February 1933 – 13 August 2019) was a Chinese politician and banker. He served as Governor ofHubeiProvince from 1985 to 1990, Vice Governor of thePeople's Bank of Chinafrom 1990 to 1993, and Auditor-General of theNational Audit Officefrom 1994 to 1998.

Early life and education

Guo was born in February 1933 inLuoning County,Henan,Republic of China. He participated in the Communist Revolution from July 1947 and joined theChinese Communist Partyin April 1949. In July 1951, he enteredRenmin University of Chinato study commerce and graduated in August 1954.

Career in Hubei

After university, Guo worked at the Department of Commerce ofHubeiProvince. Starting in December 1957, he worked at Wuhan School of Commerce, and later served as vice principal. He was persecuted during the early phase of theCultural Revolution.

In October 1972, Guo began working at the Office of Finance and Commerce of Hubei. In October 1980, he was appointed President of the Hubei Branch ofChina Construction Bank.In April 1983, he was appointed Vice Governor of Hubei and Director of the Provincial Economics Committee. He was promoted toDeputy Party Secretaryand Acting Governor of Hubei in December 1985 and Governor in May 1986.

During his tenure in Hubei, Guo focused on the economic growth of the province. To pressure provincial enterprises to cut their losses, he published a list of loss-making businesses in a newspaper, and coordinated banks and government financial departments to help them reduce their losses or turn a profit.However, he disagreed withGuan Guangfu,theParty Secretaryof Hubei, over the ambitious "Rising Abruptly" strategy, which aimed to dramatically increase the province's economic output. As a result, Guo ended his term prematurely and left the province, as later did his successor,Guo Shuyan.

Career in the national government

In February 1990, Guo was transferred to Beijing to serve as minister-level Vice Governor of thePeople's Bank of China,the country's central bank. In this capacity, he supported the opening of theShanghai Stock Exchangeand theShenzhen Stock Exchange.

In July 1993, Guo was appointed Deputy Auditor-General of theNational Audit Office(NAO), and was soon promoted to Auditor-General in April 1994.After the National Audit Law was adopted in 1995, the NAO initiated an audit of 43 ministries and departments of the central government, including theMinistry of Finance,theGeneral Administration of Customs,and theState Taxation Administration.The audit uncovered systematic corruption in the government, but the results were not initially made public. A year after Guo stepped down from his position, PremierZhu Rongjipublished the report in 1999, disclosing many serious problems including the misuse of hydrological funds by theMinistry of Water Resources.

In March 1998, Guo became a member of the Standing Committee of the9th National People's Congress,Deputy Director of the Congress's Finance and Economics Committee, and Founding Director of the Budget Committee. He was a member of the13thand14th Central Committee of the Chinese Communist Party.

Death

Guo died on 13 August 2019 in Beijing, at age 86. He was buried in theBabaoshan Revolutionary Cemetery.