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Pan Gongsheng: Major Int'l Financial Organizations Should Strengthen Economic Oversight, Guide National Policies
Pan Gongsheng, Governor of the People's Bank of China, stated at the Lujiazui Forum that as the global economic landscape evolves, the shareholding and voting rights of major i...
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Pan Gongsheng, Governor of the People's Bank of China, stated at the Lujiazui Forum that as the global economic landscape evolves, the shareholding and voting rights of major international financial organizations such as the IMF and World Bank, as well as some regional financial organizations, have long lacked substantive adjustments, resulting in a proportion held by emerging markets and developing countries far lower than their actual standing in the global economy.

The international community should also pay attention to certain member countries' pursuit of unilateralist policies, which may interfere with and influence the governance and operations of international financial organizations, Pan added.

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While improving governance structures, Pan suggested that major international financial organizations should further fortify their economic oversight functions, objectively assess the risks facing the world and individual countries, and actively guide nations to firmly support economic globalization and the multilateral trading system.

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