The governor of China's central bank has pulled out of the International Monetary Fund (IMF) and World Bank meetings being held in Japan. The move comes amid an ongoing territorial dispute between the two countries. 

Relations between the two soured after Japan said it has purchased disputed islands in the East China Sea claimed by both Tokyo and Beijing. China's four state-owned banks have also skipped the meetings.

Zhou Xiaochuan, the Governor of the People's Bank of China, was scheduled to attend the meetings and deliver a speech at the event. His deputy Yi Gang will now represent him at the IMF-World Bank annual meetings.

China's official news agency Xinhua has confirmed the make-up of the Chinese central bank delegation.