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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 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

Yuan

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

6 Apr 2026 - 11:00PMvideocam

China trade

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

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

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’s top economic officials answer questions at a press conference in Beijing on March 6, 2026. Photo: Xinhua

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

China’s yuan has broken through the psychologically important level of 7 per US dollar for the first time in years, as confidence in US dollar assets weakens. Photo: AFP

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

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

A view of the Jinan Huanggang Road Yellow River Crossing Tunnel, which is under construction in Jinan city, Shandong province, on March 4, 2025. Photo: Xinhua

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

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Pan Gongsheng

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

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

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.

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.

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