The Monetary Policy Committee is composed of the PBC's Governor and two Deputy Governors, a Deputy Secretary-General of the State Council, a Vice Minister of the National Development and Reform Commission, a Vice Finance Minister, the Administrator of the State Administration of Foreign Exchange, the Chairman of China Banking Regulatory Commission, the Chairman of China Securities Regulatory Commission, the Chairman of China Insurance Regulatory Commission, the Commissioner of National Bureau of Statistics, the President of the China Association of Banks and experts from the academia.