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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.

China International Capital Corporation (CICC) helped raise US$3.23 billion from 36 IPOs in Hong Kong in the first half of the year. Photo: Getty Images

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

26 Jun 2026 - 4:30PM

Yuan

Hong Kong readies offshore yuan initiatives after Shanghai move

24 Jun 2026 - 11:26PM

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

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

A former Chinese central bank official says wider international use of the yuan would not only benefit China’s economy but also contribute to the stability of the global financial system. Photo: AP

China trade

China presses IMF for quota reform, better surveillance of advanced economies

PBOC head urges IMF to ‘stand against protectionism’ amid effects from tariffs, Iran war.

20 Apr 2026 - 5:05PM

PBOC governor Pan Gongsheng appears with Kristalina Georgieva, managing director of the IMF. Photo: handout

Yuan

China’s yuan may be going global faster than Western data suggests, analysts say

Many yuan transactions are now routed through China’s own global payment system, which often does not show up in traditional data sets, analysts say.

6 Apr 2026 - 11:00PMvideocam

China trade

International capital flowing to China as investors seek certainty amid Iran war

Conflict in the Middle East and growing global turbulence following US-Israeli strikes against Iran has seen foreign investors look to China.

22 Mar 2026 - 4:24PMvideocam

Banking & finance

China’s central bank pledges stability in capital markets amid global sell-off

With worries over the Iran war driving down stock prices, the People’s Bank of China has named market stability as a ‘major task’ in 2026.

19 Mar 2026 - 9:30PM

Governor of the People’s Bank of China, Pan Gongsheng, speaks during a press conference on the sideline of the National People’s Congress in Beijing on March 6, 2026. Photo: AP

Two Sessions 2026

China pledges full support for tech sector with broad range of new policies

China’s top economic officials outline plans to support tech firms with stock market reforms and measures to stimulate demand.

6 Mar 2026 - 9:05PMvideocam

Employees work on a production line for electric flying cars in the southern Chinese city of Guangzhou. Photo: AFP

Yuan

Beijing vows yuan stability, fires back at currency-depreciation claims

PBOC governor reaffirms yuan stability, refuting trade partners’ accusations ahead of critical US talks in Paris.

6 Mar 2026 - 8:00PMvideocam

Two Sessions 2026

8 takeaways from the economic briefing at China’s ‘two sessions’

China’s top economic officials laid out their priorities for trade, technology and investment in 2026.

6 Mar 2026 - 6:57PMvideocam

China trade

UK, China boost financial ties, deepen London’s role as offshore yuan hub

New pact designates a new yuan clearing bank, boosts cross-listings and expands green finance, accelerating the international use of China’s currency.

6 Feb 2026 - 10:43PMvideocam

Yuan

US presses China to let yuan strengthen – but avoids controversial label

Washington says it could still designate Beijing in future if evidence found that it limits currency’s strength.

30 Jan 2026 - 3:01PM

Yuan

China lets yuan break through 7 per US dollar mark as dollar jitters grow

China’s central bank set the yuan fixing rate at under 7 per US dollar for the first time since mid-2023 as concerns over dollar assets mount.

23 Jan 2026 - 1:19PMvideocam

Hong Kong stock market

Hong Kong stocks rise to 1-week high on China easing hope, US data

Hang Seng Index pares loss for the week after governor of China’s central bank signals more room for policy loosening.

23 Jan 2026 - 4:29PM

A view of the People’s Bank of China building on March 6, 2025. Photo: VCG via Getty Images

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

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

China's economic recovery

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

Analysts see leadership’s language after central economic work conference as an admission that trade tensions are expected to endure.

12 Dec 2025 - 10:00PMvideocam

Banking & finance

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

Entities owned by local governments are borrowing billions from trust companies and leasing firms at rates of 8 per cent or higher, sources say.

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’s bitcoin mining market share by hash rate rose from 13.75 per cent in the first quarter of 2025 to 14.06 per cent in the current quarter. Photo: Shutterstock Images

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

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Pan Gongsheng

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

Hong Kong readies offshore yuan initiatives after Shanghai move

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.

China presses IMF for quota reform, better surveillance of advanced economies

PBOC head urges IMF to ‘stand against protectionism’ amid effects from tariffs, Iran war.

China’s yuan may be going global faster than Western data suggests, analysts say

Many yuan transactions are now routed through China’s own global payment system, which often does not show up in traditional data sets, analysts say.

International capital flowing to China as investors seek certainty amid Iran war

Conflict in the Middle East and growing global turbulence following US-Israeli strikes against Iran has seen foreign investors look to China.

China’s central bank pledges stability in capital markets amid global sell-off

With worries over the Iran war driving down stock prices, the People’s Bank of China has named market stability as a ‘major task’ in 2026.

China pledges full support for tech sector with broad range of new policies

China’s top economic officials outline plans to support tech firms with stock market reforms and measures to stimulate demand.

Beijing vows yuan stability, fires back at currency-depreciation claims

PBOC governor reaffirms yuan stability, refuting trade partners’ accusations ahead of critical US talks in Paris.

8 takeaways from the economic briefing at China’s ‘two sessions’

China’s top economic officials laid out their priorities for trade, technology and investment in 2026.

UK, China boost financial ties, deepen London’s role as offshore yuan hub

New pact designates a new yuan clearing bank, boosts cross-listings and expands green finance, accelerating the international use of China’s currency.

US presses China to let yuan strengthen – but avoids controversial label

Washington says it could still designate Beijing in future if evidence found that it limits currency’s strength.

China lets yuan break through 7 per US dollar mark as dollar jitters grow

China’s central bank set the yuan fixing rate at under 7 per US dollar for the first time since mid-2023 as concerns over dollar assets mount.

Hong Kong stocks rise to 1-week high on China easing hope, US data

Hang Seng Index pares loss for the week after governor of China’s central bank signals more room for policy loosening.

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

Analysts see leadership’s language after central economic work conference as an admission that trade tensions are expected to endure.

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

Entities owned by local governments are borrowing billions from trust companies and leasing firms at rates of 8 per cent or higher, sources say.

‘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-1pcrwvc{color:#2aa191;}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.

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