IMF Opens Shanghai Center to Deepen Asia-Pacific Ties
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The International Monetary Fund inaugurated its Shanghai regional center on Monday, aiming to bolster ties with the Asia-Pacific and advance research on emerging markets.
The launch of the center — the IMF’s 21st center worldwide — underscores closer cooperation between the Washington-based institution and China, as the country cements its role in shaping regional economic policy and financial stability across developing nations.
IMF Managing Director Kristalina Georgieva attended the opening alongside People’s Bank of China Governor Pan Gongsheng and Shanghai Mayor Gong Zheng. First proposed 18 months ago, the Shanghai office is designed to foster dialogue with Asia-Pacific economies, focus on research pertinent to middle-income nations and support tailored capacity-building initiatives, according to a PBOC statement.
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- The IMF opened its 21st regional center in Shanghai to strengthen Asia-Pacific ties and focus on research for emerging markets.
- Priority research areas include enhancing the private sector environment, leveraging AI (which could boost growth by 0.8-1%), and advancing regional trade integration (potential 8% GDP gain).
- Johannes Wiegand was appointed as the center’s first director, aiming to support dialogue and financial stability in the region.
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