Pan Gongsheng warns of cross-sector risks at Asia-Pacific meeting
People's Bank of China Governor Pan Gongsheng highlighted growing cross-sector financial risks at the 20th EMEAP Asia-Pacific High-level Meeting on Banking Supervision in Tianjin. He urged regional cooperation on macro-prudential management.
Addressing evolving financial threats
PBOC Governor Pan Gongsheng emphasized that cross-institution, cross-market, and cross-sector risks represent the primary threats to the financial sector.
He stressed the need for continuous enhancement of macro-prudential management frameworks alongside micro-prudential oversight.
China has successfully improved its macro-prudential policy toolkit, strengthened supervision for systemically important financial institutions, and implemented macro-prudential management in financial markets, yielding positive results.
These domestic achievements underscore the importance of proactive regulatory measures.
Pan Gongsheng highlighted that EMEAP members should prioritize macro-prudential supervision, continue implementing agreed international financial reform agenda, and strengthen coordination on international financial governance to forge regional synergy.
Regional cooperation on the agenda
The People's Bank of China hosted the 20th EMEAP Asia-Pacific High-level Meeting on Banking Supervision in Tianjin from January 27 to 29, 2026. This gathering provided a crucial platform for regional central banks to discuss pressing financial stability issues and foster collaboration.
Deputy Governor Lu Lei also attended, underscoring the high-level commitment.
Governor Pan Gongsheng urged EMEAP members to strengthen coordination on international financial governance to build regional synergy.
On the margins, Pan Gongsheng met with Biswo Nath Poudel, Governor of Nepal Rastra Bank, to discuss financial cooperation between China and Nepal.
A call for collective vigilance
Pan Gongsheng's address signals a crucial pivot towards systemic, cross-border risks, acknowledging their primary threat to financial stability.
The call for regional synergy in macro-prudential management reflects a pragmatic recognition of shared vulnerabilities.
This underscores the persistent and evolving nature of global financial challenges, demanding coordinated international responses.