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June 22nd, 2024

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IMF Shanghai Regional Center officially opens

The International Monetary Fund (IMF) Shanghai Regional Center was officially opened on Wednesday, according to a statement published on the official website of the People's Bank of China (PBOC).

The center in Shanghai is one of several regional centers set up by the IMF around the world. It was established to strengthen the IMF's engagement and cooperation with Asia Pacific economies and conduct research in areas of interest to emerging markets and middle-income countries, the document said.

It also aims to provide targeted capacity-building support for these economies and safeguard regional and global financial stability, according to the statement.

At the center's launch ceremony, PBOC Governor Pan Gongsheng said that the center will deepen cooperation between the IMF and China, enhance macroeconomic policy exchange and coordination among Asia-Pacific countries, and support regional and global financial stability.

IMF Managing Director Kristalina Georgieva, who also attended the ceremony, said she welcomed the important initiative with the PBOC to establish the Shanghai Regional Center, saying that the center will further strengthen the IMF's engagement in the dynamic Asia-Pacific region, deepen its understanding of perspectives from member countries, and foster international economic cooperation.

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