China, IMF to Open Shanghai Hub to Strengthen Asia-Pacific Cooperation
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The International Monetary Fund (IMF) is set to open a new regional center in the financial hub of Shanghai in a move to further strengthen its engagement and partnership in the Asia-Pacific, the Washington-based lender announced on Tuesday in a joint statement with China’s central bank.
“The center will … deepen our understanding of perspectives from member countries, and foster international economic cooperation,” Kristalina Georgieva, the IMF’s managing director, said in a statement released on the eve of the opening of the annual Lujiazui Forum — a high-level financial conference held in Shanghai.
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- The IMF will open a new regional center in Shanghai to enhance engagement and economic cooperation in the Asia-Pacific.
- The center aims to foster research, policy dialogue, and capacity-building, working with the China-IMF Capacity Development Center.
- The IMF raised China's 2023 growth forecast to 5% but cautioned about the risks of industrial policies and recommended reforms to improve productivity.
- 2013：
- Beijing announced the Belt and Road Initiative.
- 2017：
- The China-IMF Capacity Development Center (CICDC) was established by the IMF and the People’s Bank of China (PBOC).
- Late last month：
- The IMF raised its forecast for China’s economic growth to 5% from 4.6%, citing strong growth in the first quarter.
- Tuesday, June 18, 2024：
- The IMF announced in a joint statement with China’s central bank that it will open a new regional center in Shanghai.
- June 19-21, 2024：
- The annual Lujiazui Forum, a high-level financial conference, is held in Shanghai.
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