Central banks discuss global financial uncertainty in Shanghai
The People's Bank of China and the Bank for International Settlements co-hosted a high-level symposium in Shanghai on June 10, 2026. Governors from 30 central banks exchanged views on global financial uncertainty and investment strategies.
China's market opening and global challenges
The symposium gathered governors and senior representatives from approximately 30 central banks and monetary authorities worldwide, including those from Brazil, Germany, Switzerland, and the United Kingdom.
Participants exchanged views on global macroeconomic conditions, financial market developments, foreign exchange trends, and institutional investors' asset allocation strategies.
Discussions also covered investment opportunities in Asia-Pacific financial markets, emerging market local currency bonds, and global reserve management trends and diversification of the international monetary system.
PBOC Governor Pan Gongsheng highlighted China's financial markets, noting their stable development and progress in opening-up.
He emphasized that the depth and breadth of China's markets offer important portfolio diversification opportunities for overseas institutional investors, especially amidst global economic challenges like geopolitical conflicts and rising protectionism.
Navigating fragmentation and non-bank risks
BIS General Manager Pablo Hernández de Cos remarked on the multiple challenges confronting the global economic and financial environment.
He cited geopolitical tensions, economic fragmentation, elevated debt levels, and rapid technological change as key drivers of rising uncertainty.
Hernández de Cos also highlighted the rapid expansion of non-bank financial institutions, noting their significant implications for financial stability.
In this context, he stressed the critical importance of international cooperation to safeguard the stability of the global financial system.
Top management from major domestic and foreign financial institutions, including Citibank and Goldman Sachs, also participated in the symposium.
Beyond the headlines: A shared concern
This high-level symposium underscores the growing consensus among central banks regarding the multifaceted risks to global financial stability.
While specific policy responses remain diverse, the shared platform for dialogue on uncertainty and fragmentation is increasingly vital.
The participation of major financial institutions further highlights the practical implications of these discussions for market participants navigating a complex landscape.