September 25, 2021

China’s central bank chief says trade tensions major risk to global economy


People’s Bank of China Governor Yi Gang, Federal Reserve Chairman Jerome Powell and Nigeria’s Finance Minister Zainab Shamsuna Ahmed gather for a group photo during the IMF and World Bank’s 2019 Annual Meetings of finance ministers and bank governors, in Washington, U.S., October 19, 2019. REUTERS/Mike Theiler

WASHINGTON (Reuters) – China’s top central banker said on Saturday that potential escalation of trade tensions and policy uncertainty were the major risk factors facing the world economy, and market forces were keeping China’s yuan at an appropriate level.

Yi Gang, the governor of the People’s Bank of China, said in a statement to the International Monetary Fund’s steering committee that Beijing is “deeply disappointed” in the IMF’s failure to realign its shareholding structure to recognize the rising influence of China and other fast-growing economies.

Reporting by David Lawder; Editing by Paul Simao

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