The People's Bank of China published a readout of Governor Pan Gongsheng’s participation in the 15–16 October G20 finance ministers and central bank governors meeting in Washington, where he warned that trade policy uncertainty, geopolitical tensions, and overlapping fiscal and financial vulnerabilities could trigger market volatility. He also stated that the People’s Bank of China will implement a moderately loose monetary policy, citing a continued improvement in China’s economic momentum and stable financial market conditions. The meeting covered the global economic outlook, international financial architecture, financial sector reform, and Africa’s development and growth challenges. Participants assessed the global economy as relatively resilient but still facing downside risks, and called for growth-oriented macroeconomic policies, stronger multilateral cooperation, and support for a World Trade Organization-centred multilateral trading system while reaffirming opposition to protectionism. They reiterated support for a strong, quota-based, adequately resourced International Monetary Fund as the core of the global financial safety net, urged countries to complete domestic approvals for the quota increase under the 16th General Review of Quotas, and called for principles on IMF quota and governance reform to be developed by April 2026; Pan also urged continued progress on IMF quota reform and a meaningful quota adjustment under the 17th review. Next steps referenced in the meeting outcomes include completing national approval processes for the 16th review quota increase and agreeing principles for IMF quota and governance reforms by April 2026.

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