The International Monetary Fund (IMF) announced on Wednesday the establishment of a new regional center in Shanghai, China. The announcement was made at the Lujiazui Forum, marking a significant milestone in the IMF’s efforts to strengthen its engagement with the Asia-Pacific region.
The new center aims to enhance collaboration between the IMF and member countries in the region, providing support for economic policymaking, capacity development, and financial stability. By situating the center in Shanghai, one of Asia’s leading financial hubs, the IMF seeks to leverage the city’s strategic position to foster closer ties with regional economies.
“The establishment of the regional center in Shanghai underscores our commitment to supporting economic growth and stability in the Asia-Pacific,” said IMF Managing Director Kristalina Georgieva at the forum. “We look forward to working closely with our partners to address shared challenges and opportunities.”
Economists and market analysts have welcomed the move, viewing it as recognition of China’s growing role in the global financial system. The center is expected to facilitate more effective communication and cooperation between the IMF and regional stakeholders, including governments, financial institutions, and academia.
Held annually, the Lujiazui Forum brings together international financial leaders, policymakers, and experts to discuss key issues affecting the global economic landscape. This year’s forum focused on promoting sustainable development and economic recovery in the post-pandemic era.
Reference(s):
cgtn.com
