MNI BRIEF: PBOC's Pan Calls For Global Policy Coordination

People’s Bank of China will implement a moderately accommodative policy to support China’s economic growth and major economies should strengthen policy coordination to safeguard against global economic and financial stability, PBOC governor Pan Gongsheng said in Washington at the Spring Meetings of the International Monetary Fund (IMF) and the World Bank. 

According to China Central Television, Pan stated that China’s financial markets have demonstrated strong resilience against global uncertainties and external shocks, while the economy had seen a solid start in the first quarter with an upward trajectory. 

He noted the international financial and governance system established after the Second World War II needs to be reformed and improved in line with changing times, and any attempts to weaken or even overturn the existing framework would be disruptive.