IMF announces establishment of Shanghai Regional Center

Credit: Dong Jun / SHINE

The International Monetary Fund announced the launch of its Shanghai Regional Center on Wednesday as the Lujiazui Forum kicked off in the city.

The setup of the IMF Shanghai Regional Center aims to strengthen cooperation and exchanges within the Asian region, promoting stability and development of the global economy.

"I'm glad to witness this important initiative in cooperation with the People's Bank of China," said Kristalina Georgieva, managing director of the IMF.

"I believe the center will further strengthen the work of the IMF in the dynamic Asia-Pacific region, contribute to a deeper understanding by the IMF of the views of member countries, and promote international economic cooperation."

It is expected to bring more international resources and experience to China's financial market and help further opening up and internationalization of the financial market.