PBOC Governor Pan Gongsheng Meets ECB President Lagarde and Other Central Bank Heads

【PBOC Governor Pan Gongsheng Meets ECB President Lagarde and Other Central Bank Heads】

On October 16, 2026, Pan Gongsheng, Governor of the People's Bank of China, met on the sidelines of the IMF/World Bank Annual Meetings with Valdis Dombrovskis, European Commissioner for Economy and Productivity, Christine Lagarde, President of the European Central Bank, and Paschal Donohoe, President of the Eurogroup, exchanging views on China-EU macroeconomic and financial policies as well as China-EU monetary and financial cooperation. Pan stated that global economic imbalances are closely linked to the evolution of the global division of labor, inherent contradictions in the international monetary system, and prolonged high fiscal deficits and high consumption in certain countries. Global imbalances cannot be resolved through exchange rate adjustments. 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 China-EU central bank governors' meeting, and elevate China-EU financial cooperation to new heights.