The International Monetary Fund (IMF) officially launched operations of its new center in Shanghai on Dec 8.

According to an IMF news release, the Shanghai Center will strengthen the organization's engagement with the Asia-Pacific region and support research and knowledge sharing that will inform policy decisions in areas relevant to emerging markets and middle-income countries.

Pan Gongsheng, governor of the People's Bank of China (PBOC), Shanghai Mayor Gong Zheng, and IMF Managing Director Kristalina Georgieva jointly inaugurated the center.

At the ceremony, Georgieva said the Shanghai Center will deepen the IMF's understanding of member countries' perspectives and help advance international economic cooperation.

Pan said that the center will enhance macroeconomic policy exchange and coordination across the Asia-Pacific region while supporting both regional and global financial stability.

Gong said the inauguration of the IMF Shanghai Center will provide strong support to Shanghai as it advances high-level financial opening-up and reinforces its role as an international financial center through stronger policy research, capacity-building and cooperation.

The center was launched at the Lujiazui Forum in June 2024 as a new strategic cooperation initiative between the IMF and the PBOC.

Johannes Wiegand, an IMF economist, is serving as the first director of the IMF Shanghai Center.

Source: General Office of the Shanghai Municipal People's Government