On December 8, the International Monetary Fund (IMF) Shanghai Center officially held its opening ceremony.

In his speech at the event, People’s Bank of China Governor Pan Gongsheng emphasized that "the opening of the IMF Shanghai Center fully reflects China and the IMF’s firm commitment to win-win cooperation. It holds great significance for deepening collaboration between the IMF and China, promoting macroeconomic policy exchanges and coordination among Asia-Pacific nations, and safeguarding global and regional financial stability while improving global financial governance."

Pan further noted that China welcomes the IMF’s establishment of a regional center in Shanghai, believing this initiative will effectively enhance bilateral cooperation, strengthen policy coordination among Asia-Pacific countries, and bolster financial stability. He stated that the PBOC will continue working with Shanghai and the IMF to fully support the center’s development, advancing reforms in global financial governance.

IMF Managing Director Kristalina Georgieva, Shanghai Mayor Gong Zheng, and PBOC Deputy Governor Xuan Changneng attended the event.

Georgieva congratulated the center on its launch, stating that it will serve as a key hub for research on policy areas relevant to emerging markets and middle-income countries, deepening dialogue and exchanges between the IMF and regional members, institutions, and stakeholders.

Mayor Gong Zheng also extended congratulations, expressing hopes that the center will support Shanghai’s development as an international financial hub through policy research, capacity-building, and fostering cooperation. He pledged that Shanghai will continue providing favorable conditions for the center’s efficient operation.

The establishment of the Shanghai Center, one of the IMF’s regional hubs worldwide, traces back to June last year. During the Lujiazui Forum, the IMF and the PBOC announced plans to set up the center, aiming to strengthen engagement with Asia-Pacific economies, conduct research on issues critical to emerging markets, and provide targeted capacity-building support to maintain financial stability.

Johannes Wiegand, a senior IMF economist, has been appointed as the center’s first director. With extensive IMF expertise and experience in global and regional economic policy, Wiegand is expected to provide strong leadership for the center’s operations.