Xuan discusses supply shocks and AI at BIS Basel meetings
People's Bank of China Deputy Governor Xuan Changneng attended the Bank for International Settlements bimonthly meetings in Basel on September 6 and 7. Central bank governors exchanged views on artificial intelligence, supply shocks and monetary policy communication.
Artificial intelligence and supply shocks in Basel
Deputy Governor Xuan Changneng represented the People's Bank of China (PBOC) at the bimonthly meetings of central bank governors organized by the Bank for International Settlements (BIS) in Basel, Switzerland, between September 6 and September 7. The high-level gathering focused on recent developments across the global economic and financial landscape.
Central bank leaders examined appropriate policy responses to unexpected supply shocks and evaluated the challenges posed by the rapid iteration of artificial intelligence technologies.
Participants also assessed effective monetary policy communication strategies in an increasingly fragmented and fast-changing global macroeconomic environment.
Bilateral talks on the sidelines
Beyond the plenary sessions, Deputy Governor Xuan held bilateral discussions with several counterpart governors from other central banks to address issues of mutual interest.
The regular BIS bimonthly meetings serve as a principal international forum for senior central bank officials to coordinate perspectives on financial stability, cross-border banking developments, and shared macroeconomic risks, fostering direct institutional dialogue among major monetary authorities.
Routine diplomacy without policy shifts
The routine communique confirms China's active engagement in Basel without detailing concrete commitments.
Elevating artificial intelligence and supply shocks highlights shared institutional priorities across major central banks.
Domestic economic realities will nevertheless continue to dictate policy.