From October 20 to 22, by the banks of the Huangpu River in Shanghai, the 2026 Sustainable Global Leaders Conference returns once again. Nobel Prize and Turing Award winners will share insights on the future and trends of technology on site, and the internet-famous professors who "rescue" people from anxiety and the era of involution — Macfarlane and Xiang Biao — will hold a live dialogue!
Limited seats available, first come first served. Let us embark together on the journey toward sustainability! [Click to Register]
Original Title: Pan Gongsheng, Governor of the People's Bank of China, Meets with European Commission Commissioner for Economy and Productivity Dombrovskis, European Central Bank President Lagarde, Eurogroup President Pierrakakis, and Central Bank Governors of Relevant European Countries
On October 16, 2026, during his attendance at the International Monetary Fund/World Bank Annual Meetings, Pan Gongsheng, Governor of the People's Bank of China, met upon request with Valdis Dombrovskis, European Commission Commissioner for Economy and Productivity, Christine Lagarde, President of the European Central Bank, and Pierrakakis, President of the Eurogroup, to exchange views on topics including China-EU macroeconomic and financial policies and China-EU monetary and financial cooperation.
Pan Gongsheng stated that global economic imbalances are closely related to the evolution of the global division of labor, the inherent contradictions of the international monetary system, and the long-term high fiscal deficits and high consumption of some countries. Global imbalances cannot be adjusted through exchange rates alone. Exchange rates are influenced by multiple factors including economic growth, monetary policy, financial markets, geopolitics, and sudden risk events, and do not have a simple linear relationship with current accounts. Deficit countries and surplus countries should work together to achieve dynamic global economic balance. China is a responsible major country and has been committed in recent years to expanding domestic demand and actively promoting the transformation of its economic growth model. China will firmly implement the strategic direction and key measures set out in the "15th Five-Year Plan," closely integrate investment in physical goods with investment in people, vigorously promote the development of the service industry, and continue to advance structural reforms, thereby driving the macroeconomy to achieve a new internal and external balance at a higher level. China is willing to strengthen coordination and cooperation with the European side, fully leverage mechanisms such as the China-EU Financial Working Group and the annual meeting of the China-EU central bank governors, and push China-EU financial cooperation to new heights.
The European side stated that adjusting global imbalances requires efforts from all stakeholders. The EU will increase investment, advance the construction of internal market integration, and enhance productivity and long-term competitiveness. China and the EU are closely linked economically, and both sides share broad common interests in maintaining global economic and financial stability, promoting trade and investment, and improving global economic governance. The European side is willing to strengthen macroeconomic policy communication and coordination with China, properly handle differences, deepen practical cooperation in the monetary and financial field, and promote the stable and healthy development of China-EU relations.
From October 14 to 16, 2026, Governor Pan Gongsheng also met separately with François Villeroy de Galhau, Governor of the Bank of France, and Erik Thedéen, Governor of the Swedish Central Bank, to exchange views on topics including the global economic and financial situation and deepening bilateral monetary and financial cooperation. Xuan Changneng, Deputy Governor of the People's Bank of China, attended the above meetings.
Pan Gongsheng, Governor of the People's Bank of China, Holds Talks with François Villeroy de Galhau, Governor of the Bank of France
Pan Gongsheng, Governor of the People's Bank of China, Holds Talks with Erik Thedéen, Governor of the Swedish Central Bank
Comments