Changchun Mu has been thrust into the limelight and under global public scrutiny now he is the head of China’s national cryptocurrency project.
Born in December 1973, he has worked his way up the People’s Bank of China (PBoC) and into the position of leading Chin’s future financial plans and holds an important role, especially when considering China’s leader, Xi Jingping’s recent blockchain comments.
Clearly, Mu is someone you need to know to understand the Chinse situation. So we compiled a top 10 facts about Changchun Mu:
He studied in China and Australia
Mu’s higher education began in China where he graduated from Renmin University in 1995. Five years later, he graduated from Macquarie University in Australia where he received a Master’s degree in applied finance.
His first post was at China’s central bank
After graduating from Renmin University, Mu landed his first job at the People’s Bank of China (PBoC), China’s central bank. Here, Changchun was responsible with coordinating multilateral and bilateral affairs between China’s central bank, international financial firms, and other international organizations. He held this role for nine years, from 1995 – 2004.
Mu left PBoC for the Canadian Development Bank
In 2004, Mu joined the Canadian Development Bank of the African Development Bank as a Senior Advisor. However, he only spent two years in this position before returning home.
Mu’s Return to PBoC
In 2006, Mu returned to the People’s Bank of China where he was absorbed in the International Department. He stayed in the General Office for seven years, from 2010 to 2017. During this time, in 2015, Mu became the second in command in PBoC’s General Office.
Mu becomes part of the First Committee
In 2016, during PBoC’s third plenary session of the Youth Federation, Mu was among those who were added to the Standing Committee which is under PBoC’s First Committee.
Mu’s rise within the PBoC
From the second in command in the General Office, Mu became the second in command in PBoC’s department of Payment and Settlement. He assumed this position from 2017 to September 2019. On September 6, Mu became PBoC’s director of the Digital Money Institute.
Judging by his public speeches and time spent in Australia, Mu has both general and deeper understanding of both worlds – Chinese and English. This could help him become the figure of the national cryptocurrency.
He’s trusted with results
With his strong financial background, Mu commands respect in the corporate world. For example, quoting comments from several financial firms concerning the Digital Money Institute which is under the People’s Bank of China, Shanghai Securities Daily noted that Mu’s appointment as the director brings hope that the Chinese national cryptocurrency will make an official appearance in the near future.
To him, Libra isn’t a foreign concept
Mu noted Facebook’s Libra is not to be underestimated since it will erode the Chinese renminbi in the long run if China does not act accordingly. Clearly, he is a real believer in crypto’s power and the global tussle in the digital economy between the US and China.
He brings hope to blockchain and cryptocurrency enthusiasts
By sampling a few Weibo responses in regards to Mu’s capabilities, it’s evident the Chinese blockchain and crypto community looks forward to the change.
For example, a Weibo message read:
“As long as the government begins to reform, we should be optimistic about this government and Mu Changchun.”
Another one read:
“Recently, I am very glad to see that Mu Changchun, deputy director of the Payment and Settlement Department of the Central Bank of China, has opened the course of digital currency; the blockchain has further popularized and applied.”