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Pan Gongsheng

Latest news and updates on Pan Gongsheng, the current Governor of the People’s Bank of China, a pivotal role he assumed in July 2023, also serving as the PBOC’s Communist Party Secretary. An experienced central banker, he previously held senior positions at state-owned banks and was Deputy Governor of the PBOC and Director of the State Administration of Foreign Exchange. Educated at Renmin University, Cambridge, and Harvard, he is known for driving banking and exchange rate reforms. His responsibilities include managing China’s financial stability, addressing economic challenges, and advancing the internationalisation of the yuan, notably through the mBridge project and establishing a digital yuan international operations centre.

People rest outside a store in Beijing on August 31. Photo: AFP

China stock market

China’s pension fund doubles offshore investments to new high

Hong Kong market to benefit as lower growth and interest rates make it harder for fund to ‘rely solely on domestic assets’, analyst says.

4 minutes ago

2026 Xi-Trump summits

US targets China’s global trade surplus at G20 meeting ahead of Xi-Trump summit

1 Sep 2026 - 3:31AMvideocam

China-Africa relations

Why the Chinese yuan could soon be Africa’s most important currency

16 Aug 2026 - 2:54PMvideocam

Bonds

Hong Kong to list first Shanghai free-trade zone bond to defend yuan hub status

HKEX announces that a Shanghai Electric subsidiary is set to list a 1.5 billion yuan green bond later this month.

14 Aug 2026 - 5:32PM

A view of the Hong Kong skyline. Photo: Getty Images

Banking & finance

Chinese banks test repo-linked corporate loans for more market-based pricing

Lenders are shifting loan benchmarks to short-term market rates, which analysts say heightens volatility and tests risk controls.

14 Aug 2026 - 12:47PM

Banking & finance

China’s panda bond market surges as Goldman Sachs flags limits to yuan expansion

Issuance of yuan-denominated debt surges, including in dim sum bond market, but sustained global use of yuan seen requiring broader access and stronger finance links.

10 Aug 2026 - 3:00PM

China-Latin America relations

UnionPay to link Chinese payment apps to Brazil’s Pix after US tariffs

Central banks stay silent on pilot that would let tourists scan and pay weeks after Washington taxed the system.

8 Aug 2026 - 4:41AMvideocam

China-Latin America relations

Brazil to become regular borrower in China, treasury official says

Brasilia cannot guarantee debut will happen this year, but wants it repeated to give companies a yuan benchmark to aim for.

6 Aug 2026 - 2:34AMvideocam

Yuan

Fresh mBridge progress boosts cross-border digital yuan push

China’s Project mBridge, the multilateral central bank digital currency platform, is moving closer to broader commercial adoption.

4 Aug 2026 - 6:39PM

Banking & finance

China’s forex regulator pledges to open up market, tighten capital oversight

SAFE will expand forex market access and monitor cross-border capital flows while PBOC will push panda bonds and offshore yuan market.

2 Aug 2026 - 9:05PMvideocam

China will also advance the opening-up of its capital account and continue its reform of banking foreign-exchange business practices. Photo: dpa

Hong Kong economy

Opinion | Hong Kong’s 5-year plan must focus on what the city does best

Integration, connectivity and contribution to the national economy are the city’s tried and tested ingredients of success.

19 Jul 2026 - 9:30AM

The Star Ferry sails past the Central district skyline in Victoria Harbour, on July 1. Photo: AFP

Banking & finance

China speeds up new overseas quotas to expand global reach of domestic investors

Move to expand QDII quotas signals a deeper opening of China’s markets and growing appetite for global assets.

17 Jul 2026 - 5:03PM

Stocks

Diversify away from US markets to shield savers, ex-World Bank official warns

Oxford’s Ian Goldin says extreme concentration of capital in tech giants exposes global investors to a looming and painful valuation reversal.

16 Jul 2026 - 4:24PM

Hong Kong stock market

Goldman Sachs backs HKEX with ‘buy’ rating, citing Beijing’s policy support

Shares of HKEX have lost about 5 per cent so far this year, roughly in line with the performance of the Hang Seng Index.

16 Jul 2026 - 5:26PM

Beijing has doubled down on its support for Hong Kong’s stock market. Photo: Shutterstock Images

China’s private sector

Chinese political journal calls for ‘patient capital’ amid AI investment frenzy

Communist Party journal runs three consecutive commentaries encouraging long-term perspective in funding for technological innovation.

10 Jul 2026 - 7:30PM

A man checks his phone while walking in Beijing’s central business district. Photo: EPA-EFE

China deflation

China’s central bank vows flexibility amid uneven economic picture

PBOC pledges ‘moderately loose’ monetary policy given a ‘more complex and volatile’ environment and domestic ‘structural divergence’.

9 Jul 2026 - 3:35PM

Banking & finance

China further boosts Hong Kong’s role as offshore yuan hub

Central bank chief Pan Gongsheng unveiled new steps to grow the yuan market in Hong Kong, underscoring the city’s role in boosting global use of China’s currency.

8 Jul 2026 - 5:11PM

Banking & finance

Beijing unveils policy enhancements to give ‘vitality’ to Hong Kong markets

The governor of China’s central bank says Beijing is set to increase capital allocation to the city to 800 billion yuan under the Bond Connect scheme.

7 Jul 2026 - 12:25PM

Pan Gongsheng, governor of the People’s Bank of China gives a keynote speech at Hong Kong FIC & Bond Connect Summit in Admiralty. Photo: Sun Yueng

Banking & finance

China’s Goldman Sachs dream: mainland banks ride Hong Kong’s IPO wave

Chinese investment banks are challenging global rivals after earning billions of dollars in the first half of the year.

3 Jul 2026 - 11:00AM

Banking & finance

Indonesia set to issue US$1 billion in panda bonds in China

The Southeast Asian country will offer the bonds in an attempt to better stabilise its national finances as the rupiah continues to fall.

26 Jun 2026 - 4:30PM

Yuan

Hong Kong readies offshore yuan initiatives after Shanghai move

Beijing is supporting the development of offshore yuan trading as part of a broader drive to boost the Chinese currency’s global role.

24 Jun 2026 - 11:26PM

Hong Kong Financial Secretary Paul Chan Mo-po. Photo: SCMP

Banking & finance

The panda bonds: how China uses assets to boost yuan, cement partnerships

Brazil is preparing to issue panda bonds, another indicator of the rising popularity of yuan-denominated assets amid a de-dollarisation trend.

22 Jun 2026 - 7:08PMvideocam

The world’s 10th largest economy, Brazil, is the latest country to issue panda bonds. Photo: DPA

China's economic recovery

China’s policy blitz at Lujiazui Forum – what the monetary overhaul means

Regulators are leveraging currency strength to formalise outbound routes, granting fresh quotes for global assets while narrowing the interest-rate corridor.

18 Jun 2026 - 7:02PM

US-China trade war

China touts new finance tools to fend off sanctions

Anti-sanctions measures and efforts to globalise the yuan were among key topics as Chinese finance regulators and policymakers addressed the 2026 Lujiazui Forum.

18 Jun 2026 - 6:34PM

Yuan

Shanghai to lead ‘financial superpower’ push as China unveils plan to boost yuan

China’s central bank governor speaks at annual financial forum about further opening repurchase facilities and offshore trading to foreign central banks.

17 Jun 2026 - 2:35PMvideocam

HAIAN, CHINA - MARCH 20, 2024 - A staff member counts Chinese yuan at a bank in Haian, East China’s Jiangsu province, March 20, 2024. (Photo credit should read CFOTO/Future Publishing via Getty Images)

China-Latin America relations

Argentina edges back to China on currency swap despite US pressure

Buenos Aires denies negotiating renewal, but the US$19 billion swap expires August 6, and Argentine reports say talks are already advancing.

16 Jun 2026 - 4:23AMvideocam

People’s Bank of China governor Pan Gongsheng (right) with Santiago Bausili, the president of the Central Bank of Argentina, at the PBOC-BIS Symposium in Shanghai on Wednesday. Photo: Handout

Banking & finance

PBOC chief says China a haven for asset diversification in volatile world

Pan Gongsheng tells representatives from about 30 central banks around the world that opening-up measures are working.

11 Jun 2026 - 5:25PM

Banking & finance

Can currency swaps make China a lender of last resort?

Change is coming as the US dollar loses its shine and more yuan deals are struck, Zhu Min says.

24 May 2026 - 9:00PMvideocam

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Pan Gongsheng

China’s pension fund doubles offshore investments to new high

Hong Kong market to benefit as lower growth and interest rates make it harder for fund to ‘rely solely on domestic assets’, analyst says.

US targets China’s global trade surplus at G20 meeting ahead of Xi-Trump summit

Why the Chinese yuan could soon be Africa’s most important currency

Hong Kong to list first Shanghai free-trade zone bond to defend yuan hub status

HKEX announces that a Shanghai Electric subsidiary is set to list a 1.5 billion yuan green bond later this month.

Chinese banks test repo-linked corporate loans for more market-based pricing

Lenders are shifting loan benchmarks to short-term market rates, which analysts say heightens volatility and tests risk controls.

China’s panda bond market surges as Goldman Sachs flags limits to yuan expansion

Issuance of yuan-denominated debt surges, including in dim sum bond market, but sustained global use of yuan seen requiring broader access and stronger finance links.

UnionPay to link Chinese payment apps to Brazil’s Pix after US tariffs

Central banks stay silent on pilot that would let tourists scan and pay weeks after Washington taxed the system.

Brazil to become regular borrower in China, treasury official says

Brasilia cannot guarantee debut will happen this year, but wants it repeated to give companies a yuan benchmark to aim for.

Fresh mBridge progress boosts cross-border digital yuan push

China’s Project mBridge, the multilateral central bank digital currency platform, is moving closer to broader commercial adoption.

China’s forex regulator pledges to open up market, tighten capital oversight

SAFE will expand forex market access and monitor cross-border capital flows while PBOC will push panda bonds and offshore yuan market.

.css-1pcrwvc{color:#2aa191;}Opinion | Hong Kong’s 5-year plan must focus on what the city does best

Integration, connectivity and contribution to the national economy are the city’s tried and tested ingredients of success.

China speeds up new overseas quotas to expand global reach of domestic investors

Move to expand QDII quotas signals a deeper opening of China’s markets and growing appetite for global assets.

Diversify away from US markets to shield savers, ex-World Bank official warns

Oxford’s Ian Goldin says extreme concentration of capital in tech giants exposes global investors to a looming and painful valuation reversal.

Goldman Sachs backs HKEX with ‘buy’ rating, citing Beijing’s policy support

Shares of HKEX have lost about 5 per cent so far this year, roughly in line with the performance of the Hang Seng Index.

Chinese political journal calls for ‘patient capital’ amid AI investment frenzy

Communist Party journal runs three consecutive commentaries encouraging long-term perspective in funding for technological innovation.

China’s central bank vows flexibility amid uneven economic picture

PBOC pledges ‘moderately loose’ monetary policy given a ‘more complex and volatile’ environment and domestic ‘structural divergence’.

China further boosts Hong Kong’s role as offshore yuan hub

Central bank chief Pan Gongsheng unveiled new steps to grow the yuan market in Hong Kong, underscoring the city’s role in boosting global use of China’s currency.

Beijing unveils policy enhancements to give ‘vitality’ to Hong Kong markets

The governor of China’s central bank says Beijing is set to increase capital allocation to the city to 800 billion yuan under the Bond Connect scheme.

China’s Goldman Sachs dream: mainland banks ride Hong Kong’s IPO wave

Chinese investment banks are challenging global rivals after earning billions of dollars in the first half of the year.

Indonesia set to issue US$1 billion in panda bonds in China

The Southeast Asian country will offer the bonds in an attempt to better stabilise its national finances as the rupiah continues to fall.

Hong Kong readies offshore yuan initiatives after Shanghai move

Beijing is supporting the development of offshore yuan trading as part of a broader drive to boost the Chinese currency’s global role.

The panda bonds: how China uses assets to boost yuan, cement partnerships

Brazil is preparing to issue panda bonds, another indicator of the rising popularity of yuan-denominated assets amid a de-dollarisation trend.

China’s policy blitz at Lujiazui Forum – what the monetary overhaul means

Regulators are leveraging currency strength to formalise outbound routes, granting fresh quotes for global assets while narrowing the interest-rate corridor.

China touts new finance tools to fend off sanctions

Anti-sanctions measures and efforts to globalise the yuan were among key topics as Chinese finance regulators and policymakers addressed the 2026 Lujiazui Forum.

Shanghai to lead ‘financial superpower’ push as China unveils plan to boost yuan

China’s central bank governor speaks at annual financial forum about further opening repurchase facilities and offshore trading to foreign central banks.

Argentina edges back to China on currency swap despite US pressure

Buenos Aires denies negotiating renewal, but the US$19 billion swap expires August 6, and Argentine reports say talks are already advancing.

PBOC chief says China a haven for asset diversification in volatile world

Pan Gongsheng tells representatives from about 30 central banks around the world that opening-up measures are working.

Can currency swaps make China a lender of last resort?

Change is coming as the US dollar loses its shine and more yuan deals are struck, Zhu Min says.

Opinion | Hong Kong’s 5-year plan must focus on what the city does best