G20 Finance Ministers and Central Bank Governors Meeting: Pan Gongsheng: China Insists on Domestic Demand-Led Growth
Key facts
- G20 Finance Ministers and Central Bank Governors Meeting: Pan Gongsheng: China Insists on Domestic Demand-Led Growth
- At the G20 Finance Ministers and Central Bank Governors Meeting in Washington, China's central bank governor Pan Gongsheng stated that during the "15th Five-Year Plan" period, China will prioritize domestic demand, implement policies to boost consumption, and maintain a moderately loose monetary policy to support high-quality financial services for Chinese modernization.
- Source: PR Times
- Date: April 18, 2026
Direct answer
At the G20 Finance Ministers and Central Bank Governors Meeting in Washington, China's central bank governor Pan Gongsheng stated that during the "15th Five-Year Plan" period, China will prioritize domestic demand, implement policies to boost consumption, and maintain a moderately loose monetary policy to support high-quality financial services for Chinese modernization.
- Citation
- G20 Finance Ministers and Central Bank Governors Meeting: Pan Gongsheng: China Insists on Domestic Demand-Led Growth (April 18, 2026), PR Times
- Source
- PR Times
- Date
- April 18, 2026
At the G20 Finance Ministers and Central Bank Governors Meeting in Washington, China's central bank governor Pan Gongsheng stated that during the "15th Five-Year Plan" period, China will prioritize domestic demand, implement policies to boost consumption, and maintain a moderately loose monetary policy to support high-quality financial services for Chinese modernization.
📋 Article Processing Timeline
- 📰 Published: April 18, 2026 at 12:58
- 🔍 Collected: April 18, 2026 at 13:31 (32 min after Published)
- 🤖 AI Analyzed: April 18, 2026 at 13:39 (8 min after Collected)
Central News Agency
(Central News Agency reporter Liao Wen-chi, Taipei, 18th) Pan Gongsheng, Governor of the People's Bank of China (China's central bank), stated at the G20 Finance Ministers and Central Bank Governors Meeting held in Washington on the 16th, U.S. Eastern Time, that China will adhere to domestic demand-led growth during the "15th Five-Year Plan" period, implement policies to boost consumption, and maintain a moderately loose monetary policy.
According to news from the official websites of China's Ministry of Finance and the People's Bank of China, the G20 held its first Finance Ministers and Central Bank Governors Meeting of the year in Washington on the 16th. China's Minister of Finance Lan Fo'an and Governor of the People's Bank of China Pan Gongsheng both attended. The meeting mainly discussed global macroeconomic situations, global growth, and global imbalances.
Participants expressed high concern about the impact of the Middle East situation on global economic growth, believing that continued conflict would push up energy prices, disrupt supply chains, and raise inflation expectations. All parties stated that many countries currently face structural problems such as insufficient investment, labor shortages, and excessive corporate burdens.
Lan Fo'an stated that the current international situation is volatile and intertwined, and the world economy is continuously impacted by geopolitical turmoil and protectionism. China firmly upholds multilateralism and free trade and opposes trade protectionism and unilateralism.
Lan Fo'an emphasized that during the "15th Five-Year Plan" period, China will focus more on "expanding domestic demand," investing in people, and promoting openness and sharing, to achieve a qualitative improvement and reasonable quantitative growth in the economy.
Pan Gongsheng pointed out that the recent exacerbation of economic imbalances stems from global trade fragmentation caused by rising protectionism and is also closely related to the inherent flaws of the international monetary system. Deficit and surplus countries need to work together to achieve global economic rebalancing and avoid spillover effects from unilateral policies.
Pan Gongsheng stated that during the "15th Five-Year Plan" period, China will adhere to domestic demand-led growth, implement policies to boost consumption, vigorously develop the service industry, closely integrate investment in physical assets and investment in human capital, promote productivity growth, and accelerate green transition and sustainable development.
Pan Gongsheng also said that the People's Bank of China will implement a moderately loose monetary policy to support Chinese modernization with high-quality financial services. (Editor: Chen Kai-yu) 1150418
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(Central News Agency reporter Liao Wen-chi, Taipei, 18th) Pan Gongsheng, Governor of the People's Bank of China (China's central bank), stated at the G20 Finance Ministers and Central Bank Governors Meeting held in Washington on the 16th, U.S. Eastern Time, that China will adhere to domestic demand-led growth during the "15th Five-Year Plan" period, implement policies to boost consumption, and maintain a moderately loose monetary policy.
According to news from the official websites of China's Ministry of Finance and the People's Bank of China, the G20 held its first Finance Ministers and Central Bank Governors Meeting of the year in Washington on the 16th. China's Minister of Finance Lan Fo'an and Governor of the People's Bank of China Pan Gongsheng both attended. The meeting mainly discussed global macroeconomic situations, global growth, and global imbalances.
Participants expressed high concern about the impact of the Middle East situation on global economic growth, believing that continued conflict would push up energy prices, disrupt supply chains, and raise inflation expectations. All parties stated that many countries currently face structural problems such as insufficient investment, labor shortages, and excessive corporate burdens.
Lan Fo'an stated that the current international situation is volatile and intertwined, and the world economy is continuously impacted by geopolitical turmoil and protectionism. China firmly upholds multilateralism and free trade and opposes trade protectionism and unilateralism.
Lan Fo'an emphasized that during the "15th Five-Year Plan" period, China will focus more on "expanding domestic demand," investing in people, and promoting openness and sharing, to achieve a qualitative improvement and reasonable quantitative growth in the economy.
Pan Gongsheng pointed out that the recent exacerbation of economic imbalances stems from global trade fragmentation caused by rising protectionism and is also closely related to the inherent flaws of the international monetary system. Deficit and surplus countries need to work together to achieve global economic rebalancing and avoid spillover effects from unilateral policies.
Pan Gongsheng stated that during the "15th Five-Year Plan" period, China will adhere to domestic demand-led growth, implement policies to boost consumption, vigorously develop the service industry, closely integrate investment in physical assets and investment in human capital, promote productivity growth, and accelerate green transition and sustainable development.
Pan Gongsheng also said that the People's Bank of China will implement a moderately loose monetary policy to support Chinese modernization with high-quality financial services. (Editor: Chen Kai-yu) 1150418
Choose to stand with facts; every sponsorship you provide is a force for protecting press freedom.
Download the Central News Agency "First-Hand News" APP to stay updated with the latest news.
The text, images, and audio/video on this website may not be reproduced, publicly broadcast, or publicly transmitted and utilized without authorization.
FAQ
Who represented China at the G20 Finance Ministers and Central Bank Governors Meeting held in Washington on February 16?
China's Minister of Finance Lan Fo'an and People's Bank of China Governor Pan Gongsheng both attended the G20 meeting in Washington on February 16.
What was the main focus of China's economic strategy during the '15th Five-Year Plan' period according to Pan Gongsheng?
Pan Gongsheng stated that China will adhere to domestic demand-led growth and implement policies to boost consumption during the '15th Five-Year Plan' period.
What monetary policy stance did the People's Bank of China commit to during the G20 meeting in Washington?
The People's Bank of China committed to maintaining a moderately loose monetary policy during the '15th Five-Year Plan' period, as stated by Governor Pan Gongsheng.
What global risks did participants at the G20 Finance Ministers meeting highlight regarding the Middle East situation?
G20 participants expressed concern that continued conflict in the Middle East would push up energy prices, disrupt supply chains, and raise inflation expectations.
What structural challenges did G20 participants identify as affecting many countries' economic growth?
Participants noted that many countries face structural problems including insufficient investment, labor shortages, and excessive corporate burdens affecting economic growth.