Governor Zhou Xiaochuan was born in 1948. He graduated from Beijing Chemical Engineering Institute in 1975 and received his Ph.D. from Tsinghua University in 1985. Dr. Zhou served as Assistant Minister of Foreign Trade from December 1986 to December 1989 and, between November 1986 and September 1991, was also a member of the State Economic System Restructuring Committee. He became Vice President of the Bank of China in September 1991 and stayed in that position until he was appointed Director of the State Administration of Foreign Exchange in October 1995. Between October 1996 and February 1998, Dr. Zhou was Deputy Governor of the People's Bank of China and Director of the State Administration of Foreign Exchange. He became President of the China Construction Bank in February 1998 and Chairman of the China Securities Regulatory Commission in February 2000. Dr. Zhou assumed the Governorship of the People's Bank of China in January 2003.