Pan pledges accommodative policy and wider market opening
The People’s Bank of China will implement an appropriately accommodative monetary policy and expand financial market opening. Governor Pan Gongsheng announced the stance during a meeting with 15 foreign financial institutions on September 21.
Accommodative stance to anchor growth
During a meeting on September 21, Governor Pan Gongsheng affirmed that the central bank will implement an “appropriately accommodative monetary policy” to support economic growth and financial market stability.
Pan briefed executives on domestic economic performance, citing positive momentum and structural improvements.
The central bank pledged to advance high-level financial opening by expanding two-way market access and improving cross-border payment services to promote the international use of the renminbi.
Deputy Governors Xuan Changneng and Zou Lan, alongside State Administration of Foreign Exchange Deputy Administrators Xu Zhibin and Li Bin, participated in the talks.
Fifteen global lenders at the table
The dialogue included representatives from 15 major foreign institutions, including JPMorgan Chase, Bank of America, HSBC, Standard Chartered Bank, Deutsche Bank, BNP Paribas, Morgan Stanley, Goldman Sachs, and UBS Securities.
Institutional investors such as Brookfield Asset Management and CPP Investments were also present.
The delegates acknowledged ongoing reforms to the business environment while urging the central bank to refine existing rules and enhance routine market communication.
Reassurance over structural reform
Beijing is actively courting foreign capital to counter domestic growth headwinds and stabilize cross-border flows.
Yet verbal assurances of an accommodative stance cannot substitute for dismantling entrenched cross-border capital controls.
Global institutions need verifiable regulatory execution rather than recurring advisory symposia.