People's Bank of China hosts third China Gulf Cooperation Council central bank governors meeting and sets priorities for deeper financial cooperation

The People's Bank of China reported that Governor Pan Gongsheng chaired the third meeting of central bank governors from China and the Gulf Cooperation Council (GCC) member states in Saudi Arabia, the first held face to face. Participants exchanged views on the global economic and financial outlook and identified priority areas for expanding China–GCC central bank cooperation. Central bank governors highlighted complementary economic strengths and the role of deeper cooperation in supporting trade and investment and promoting regional financial stability and development, noting China as the Gulf states’ largest trading partner. Agreed focus areas included strengthening local currency cooperation, expanding two-way investment in financial markets, improving interoperability between payment systems, coordinating work on reform of international financial governance, and enhancing cooperation on digital currency and anti-money laundering. On the sidelines, Pan held bilateral meetings with Saudi Arabia’s Minister of Economy and Planning Faisal Alibrahim, Saudi Central Bank Assistant Governor Talal Alhumud, Central Bank of Azerbaijan Governor Taleh Kazimov, and UAE Central Bank Assistant Governors Ibrahim Al Zaabi and Saif Al Dhaheri, and also met International Monetary Fund Managing Director Kristalina Georgieva to discuss global economic conditions and China–IMF cooperation.