The People's Bank of China reported that Governor Pan Gongsheng met Central Bank of Brazil Governor Gabriel Galípolo during Brazilian President Luiz Inácio Lula da Silva’s visit to China, exchanging views on the global economic and financial situation and on deepening practical bilateral financial cooperation. The two governors then delivered keynote remarks at a China–Latin America panda bond seminar held under the China–CELAC Forum framework, chaired by People's Bank of China Deputy Governor Zou Lan. In his seminar remarks, Pan framed China, Brazil and other Latin American countries as key representatives of the Global South and called for broader and deeper financial cooperation amid a complex international environment. He highlighted ongoing high-level financial opening in China and increasing innovation and internationalisation in the panda bond market, including more convenient use of proceeds, and welcomed more Latin American issuers to access the market. Galípolo pointed to strong trade complementarity and steady growth in bilateral trade and foreign direct investment, and said Brazil wants to expand channels for bilateral local-currency use and improve interoperability of payment systems while jointly supporting financial stability and economic growth.
Central Bank of the Republic of China 2025-05-14
People's Bank of China meets Central Bank of Brazil governor and promotes deeper bilateral finance cooperation and Latin American panda bond issuance
The People's Bank of China and the Central Bank of Brazil discussed enhancing bilateral financial cooperation during a meeting between their governors. At a China–Latin America panda bond seminar, they emphasized the importance of financial collaboration, with China highlighting its financial market opening and Brazil focusing on expanding local-currency use and payment system interoperability.