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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.

The People’s Bank of China has unveiled a credit-rehabilitation policy to help individuals who defaulted on small loans rebuild their financial standing. Photo: Reuters

Banking & finance

China to hide bad debt records for pandemic-hit borrowers who repay small loans

New policy by the People’s Bank of China applies to one-off debts up to 10,000 yuan incurred since 2020, aiming to help people rebuild credit.

22 Dec 2025 - 9:00PMvideocam

China's economic recovery

Beijing digs in for trade ‘struggles’, eyes strategy of growth and resilience

12 Dec 2025 - 10:00PMvideocam

Banking & finance

China’s risky shadow banks back in spotlight after debt crackdown

5 Dec 2025 - 3:03PM

China trade

‘Strong breakwaters’: China’s central bank vows to shield from external shocks

Governor Pan Gongsheng says policy must prioritise the domestic economy, warning against ‘excessive policy swings’ that could undermine long-term stability.

4 Dec 2025 - 8:00PM

People’s Bank of China governor Pan Gongsheng has said that monetary policy must balance internal and external pressures. Photo: Getty Images

Cryptocurrency

Uptick in China’s bitcoin mining prompts debate on tapping energy surplus

China’s oversupply rate of solar energy in some regions has exceeded 10 per cent while that of wind energy has reached up to 15 per cent.

30 Nov 2025 - 10:00AM

China economy

Opinion | China needs high-quality financial development to support its five-year goals

Inclusive and green finance that is risk-resilient and supportive of innovation and technology must be the foundation of the new Chinese development model.

8 Nov 2025 - 5:30AMvideocam

Yuan

China’s yuan added to aviation settlements in boost to internationalisation

The International Air Transport Association is adding the yuan to the basket of currencies available for payments through its clearing house.

6 Nov 2025 - 4:32PM

Blockchain

Solana event cut short as China’s stablecoin warning sparks unease

While organisers attribute the disruption to overcapacity, some industry players fear a renewed crackdown on cryptocurrencies.

30 Oct 2025 - 8:18AM

Ant Group

Ant Group seeks ‘Antcoin’ trademark in Hong Kong as city embraces crypto

The Antcoin trademark filing has drawn attention, as Hong Kong’s digital asset development comes under scrutiny from Beijing.

28 Oct 2025 - 8:32PM

Banking & finance

China doubles down on crypto crackdown as central bank vows to expand digital yuan

PBOC chief Pan Gongsheng warns of stablecoin risks, pledges wider e-CNY use and tighter oversight of virtual currencies.

28 Oct 2025 - 3:36AM

Several bitcoins lying on a stack of silver Tether coins. Photo: Shutterstock

US-China trade war

China eyes currency swap with Japan and South Korea amid trade tensions: source

Beijing seeks to strengthen regional financial ties and boost yuan use as US trade pressures weigh on East Asian economies.

22 Oct 2025 - 10:37AMvideocam

Pan Gongsheng, governor of the People’s Bank of China, with his counterparts Kazuo Ueda (Japan) Rhee Chang-yong (South Korea) on the sidelines of the IMG-World annual meetings last week in Washington. Photo: EPA

China stock market

China’s state buyers buttress stock run with US$553 billion in holdings

With larger holdings than all foreign investors combined, the ‘national team’ led by Central Huijin has upped its buying of ETFs this year.

25 Sep 2025 - 7:47PM

China debt

In China, Ray Dalio discusses global debt issues as Beijing seeks his counsel

With local-level debt still posing risks in China, while US borrowing accelerates, Beijing turns to the Wall Street veteran for guidance while navigating precarious financial waters.

24 Sep 2025 - 7:00PMvideocam

IPO

Chery Auto IPO shows China confidence withstands economic clouds

Demand for shares of China’s largest auto exporter shows that investors are undeterred by risks hovering over the nation’s economy.

23 Sep 2025 - 5:00PM

Banking & finance

China expands ‘circle of friends’ as overseas investors boost domestic assets

With foreign capital helping to add US$3 trillion in value to Chinese equities in 2025, head of central bank affirms ‘self-determined’ monetary policy.

22 Sep 2025 - 7:00PMvideocam

Pan Gongsheng, governor of the People’s Bank of China, affirmed the country’s “self-determined” monetary policy in a press conference on Monday. Photo: Xinhua

Banking & finance

In rare move, mainland China court sells seized blockchain tokens overseas

The move comes amid debate about whether mainland China should follow Hong Kong’s footsteps and embrace stablecoins.

17 Sep 2025 - 9:00PMvideocam

Banking & finance

361 Degrees pioneers stablecoin payments in overseas businesses

The sportswear brand plans to use fiat-pegged stablecoins for cross-border payments.

15 Sep 2025 - 1:14PM

Yuan

China eyes honing its bond issuance mechanism to boost yuan’s global role

Beijing aims to increase the use of its currency overseas as trading in US dollar assets becomes increasingly volatile.

4 Sep 2025 - 7:00PM

China is upping efforts to boost the international use of the yuan amid growing volatility in US dollar assets. Photo: AFP

China digital currency

China weighs stablecoin risks against global yuan dreams

Policymakers have to balance the potential market risks stemming from a yuan stablecoin against China’s desire to internationalise the yuan and pare reliance on the dollar.

1 Sep 2025 - 3:18PM

US-China trade war

What are China’s ‘future industries’? And why they count in the global tech race

From humanoids to quantum computing, Beijing wants to reshape its economy – and lead the world in next-gen technologies.

13 Jul 2025 - 9:35AMvideocam

China digital currency

Opinion | Amid dollar disappointment, China opens new front with e-CNY push

Subtle shift under way as fintech merges with geopolitics: e-CNY is a way to evade US sanctions and dollar volatility but also carries risks.

8 Aug 2025 - 6:25PMvideocam

A digital yuan sign at the China International Fair for Trade in Services (CIFTIS) in Beijng, China, on September 5, 2021. Photo: Xinhua

Banking & finance

Explainer | The world is going all in on stablecoins. Is China’s digital yuan any different?

While the two appear similar, China’s digital currency is quite different from the cryptocurrencies many economies are rushing to regulate.

3 Jul 2025 - 10:03AMvideocam

An e-CNY mobile app icon on a smartphone. Photo: Shutterstock

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Pan Gongsheng

China to hide bad debt records for pandemic-hit borrowers who repay small loans

New policy by the People’s Bank of China applies to one-off debts up to 10,000 yuan incurred since 2020, aiming to help people rebuild credit.

Beijing digs in for trade ‘struggles’, eyes strategy of growth and resilience

China’s risky shadow banks back in spotlight after debt crackdown

‘Strong breakwaters’: China’s central bank vows to shield from external shocks

Governor Pan Gongsheng says policy must prioritise the domestic economy, warning against ‘excessive policy swings’ that could undermine long-term stability.

Uptick in China’s bitcoin mining prompts debate on tapping energy surplus

China’s oversupply rate of solar energy in some regions has exceeded 10 per cent while that of wind energy has reached up to 15 per cent.

.css-1m2rp1p{color:#34b8b5;}Opinion | China needs high-quality financial development to support its five-year goals

Inclusive and green finance that is risk-resilient and supportive of innovation and technology must be the foundation of the new Chinese development model.

China’s yuan added to aviation settlements in boost to internationalisation

The International Air Transport Association is adding the yuan to the basket of currencies available for payments through its clearing house.

Solana event cut short as China’s stablecoin warning sparks unease

While organisers attribute the disruption to overcapacity, some industry players fear a renewed crackdown on cryptocurrencies.

Ant Group seeks ‘Antcoin’ trademark in Hong Kong as city embraces crypto

The Antcoin trademark filing has drawn attention, as Hong Kong’s digital asset development comes under scrutiny from Beijing.

China doubles down on crypto crackdown as central bank vows to expand digital yuan

PBOC chief Pan Gongsheng warns of stablecoin risks, pledges wider e-CNY use and tighter oversight of virtual currencies.

China eyes currency swap with Japan and South Korea amid trade tensions: source

Beijing seeks to strengthen regional financial ties and boost yuan use as US trade pressures weigh on East Asian economies.

China’s state buyers buttress stock run with US$553 billion in holdings

With larger holdings than all foreign investors combined, the ‘national team’ led by Central Huijin has upped its buying of ETFs this year.

In China, Ray Dalio discusses global debt issues as Beijing seeks his counsel

With local-level debt still posing risks in China, while US borrowing accelerates, Beijing turns to the Wall Street veteran for guidance while navigating precarious financial waters.

Chery Auto IPO shows China confidence withstands economic clouds

Demand for shares of China’s largest auto exporter shows that investors are undeterred by risks hovering over the nation’s economy.

China expands ‘circle of friends’ as overseas investors boost domestic assets

With foreign capital helping to add US$3 trillion in value to Chinese equities in 2025, head of central bank affirms ‘self-determined’ monetary policy.

In rare move, mainland China court sells seized blockchain tokens overseas

The move comes amid debate about whether mainland China should follow Hong Kong’s footsteps and embrace stablecoins.

361 Degrees pioneers stablecoin payments in overseas businesses

The sportswear brand plans to use fiat-pegged stablecoins for cross-border payments.

China eyes honing its bond issuance mechanism to boost yuan’s global role

Beijing aims to increase the use of its currency overseas as trading in US dollar assets becomes increasingly volatile.

China weighs stablecoin risks against global yuan dreams

Policymakers have to balance the potential market risks stemming from a yuan stablecoin against China’s desire to internationalise the yuan and pare reliance on the dollar.

What are China’s ‘future industries’? And why they count in the global tech race

From humanoids to quantum computing, Beijing wants to reshape its economy – and lead the world in next-gen technologies.

Opinion | Amid dollar disappointment, China opens new front with e-CNY push

Subtle shift under way as fintech merges with geopolitics: e-CNY is a way to evade US sanctions and dollar volatility but also carries risks.

.css-sioo19{color:#c79a00;}Explainer | The world is going all in on stablecoins. Is China’s digital yuan any different?

While the two appear similar, China’s digital currency is quite different from the cryptocurrencies many economies are rushing to regulate.

Opinion | China needs high-quality financial development to support its five-year goals

Explainer | The world is going all in on stablecoins. Is China’s digital yuan any different?