The People's Bank of China published a readout of the third G20 finance ministers and central bank governors meeting of the year in Durban and remarks by Deputy Governor Tao Ling, focusing on global downside risks, IMF quota and governance reform, and the G20 sustainable finance agenda. The meeting assessed that global economic resilience has strengthened but warned of prominent downside risks including geopolitical tensions, trade fragmentation, high public debt and climate change. Participants reaffirmed support for a strong, quota-based and adequately resourced International Monetary Fund as the core of the global financial safety net, urged countries to complete domestic approval processes for the quota increase under the 16th General Review of Quotas, and called for agreement in principle on quota reform under the 17th review by April 2026. On sustainable finance, the meeting noted progress in voluntary implementation of the G20 Sustainable Finance Roadmap. In her intervention, Tao said China’s economy continues to improve and that the People's Bank of China is implementing a moderately accommodative monetary policy to support growth and financial market stability. She also called for faster preparatory work on the 17th General Review of Quotas to deliver a meaningful quota adjustment, and noted the central bank’s role as co-chair of the G20 Sustainable Finance Working Group in driving this year’s work programme.

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