IMF Opens Regional Center in Shanghai

The International Monetary Fund (IMF) opened Wednesday a regional center in Shanghai, according to a statement published on the official website of the People's Bank of China.

The statement explained that this center in Shanghai is one of the regional centers established by the International Monetary Fund around the world, and this center was established to enhance the IMF’s participation and cooperation with the economies of Asia and the Pacific and to conduct relevant research in areas of interest to emerging markets and middle-income countries. 

The center also aims to provide targeted support to build the capabilities of these economies and protect financial stability at the regional and global levels, according to Xinhua.

People’s Bank of China Governor Pan Gongsheng said: “We welcome the establishment of the IMF Regional Center in Shanghai. We believe the Shanghai Regional Center will deepen cooperation between the IMF and China, enhance macroeconomic policy exchange and coordination among the Asia Pacific countries, and support regional and global financial stability.”

IMF Managing Director Kristalina Georgieva made the following statement: “I welcome this important initiative with the People’s Bank of China to establish the Shanghai Regional Center. The center will further strengthen the IMF’s engagement in the dynamic Asia Pacific region, deepen our understanding of perspectives from member countries, and foster international economic cooperation.”