China will change three members of the central bank's monetary policy committee, according to a circular released Wednesday by the State Council, or the Cabinet.

The circular said the State Council has approved the appointment of Qian Yingyi, Chen Yulu and Song Guoqing as new members of the monetary policy committee of the People's Bank of China.

Qian is currently the dean of Tsinghua University's School of Economics and Management. Chen is the president of the Renmin University of China, and Song is a professor of the National School of Development of Peking University.

Meanwhile, Zhou Qiren, Xia Bin and Li Daokui will no longer be members of the committee, the circular said.

The committee was established in 1997, tasked with advising on the country's monetary policies. There are currently 15 committee members, including central bank officials, ministers from other government departments and economists.