Zhang Tao, used to be the deputy governor of the People's Bank of China, takes that position of the International Monetary Fund Deputy Managing Director on Monday.

Zhang was proposed to take the post by IMF head Christine Lagarde.

He is a central bank veteran with years of experience at multilateral development banks, and has extensive experience with international financial institutions, excellent communication and negotiating skills, and a superb knowledge of IMF policies and procedures.

Zhang has worked for the World Bank and the Asian Development Bank from 1995 to 2004, and served as an executive director for China at the IMF from 2011 to 2015.

Zhang will succeed Zhu Min, who is due to step down later this month after finishing his five-year term as the IMF's deputy managing director.