USA-G20 Finance Ministers/China
USA-G20 Finance Ministers/China
Dateline : Aug 31-Sept 1, 2026/File
Location : China;United States
Duration : 1'25
Asheville, USA - Aug 31-Sept 1, 2026 (CGTN - No access Chinese mainland)
1. Photo showing Pan Gongsheng, governor of People's Bank of China (PBOC), speaking at second meeting of G20 Finance Ministers and Central Bank Governors
FILE: Beijing, China - Date Unknown (CCTV - No access Chinese mainland)
2. Aerial shots of PBOC headquarters
3. PBOC sign inside headquarters
FILE: Beijing, China - June 2022 (CCTV - No access Chinese mainland)
4. Various of Beijing CBD, traffic
FILE: Beijing, China - Date Unknown (CCTV - No access Chinese mainland)
5. Aerial shots of cityscape, traffic
FILE: Shanghai, China - Date Unknown (CCTV - No access Chinese mainland)
6. Aerial shots of city view
7. Aerial shots of the Bund
8. Aerial shot of buildings, traffic
FILE: Danzhou City, Hainan Province, south China - Date Unknown (CCTV - No access Chinese mainland)
9. Aerial shots of Yangpu Port, facilities, containers
FILE: Qingdao City, Shandong Province, east China - Date Unknown (CCTV - No access Chinese mainland)
10. Aerial shots of port scene
FILE: China - Exact Location and Date Unknown (CCTV - No access Chinese mainland)
11. Various of Chinese banknotes going through cash counting machine
12. Chinese banknotes being counted manually
13. Bundles of Chinese banknotes on table
China has never deliberately pursued a trade surplus, nor does it intend to gain trade advantages through currency depreciation, Pan Gongsheng, governor of the People’s Bank of China (PBOC), said this week at a G20 meeting.
Pan warned in a speech at the second meeting of G20 Finance Ministers and Central Bank Governors in Asheville, North Carolina, that rising trade frictions, protectionism and unpredictable policy environments have been major drivers of global imbalances in recent years.
He urged all G20 members to uphold multilateralism, make full use of global financial cooperation platforms and strengthen macroeconomic policy coordination to jointly address global risks and challenges.
To resolve global imbalances, Pan called on all countries to advance structural reforms, with countries in deficit cutting their fiscal deficits and raising domestic savings, and countries in surplus moderately boosting consumption and investment.
He stressed that a commitment should be made over the medium term, with clear policy plans firmly implemented.
He noted that economic growth remains the fundamental solution to developing countries' debt challenges. Pan reiterated China's commitment to expanding domestic demand and advancing high-level opening-up, offering global markets new opportunities through its vast consumer base and contributing to a new dynamic equilibrium in the world economy.
Pan also said China has no need or intention to gain trade advantages through currency depreciation. With the upgrading of its export structure and wider use of hedging tools and renminbi settlement, Chinese trade’s sensitivity to exchange rates has declined significantly, he said.
China operates a managed floating exchange rate system that lets market forces play a decisive role while guarding against "herd behavior" and irrational expectations, Pan added.
The PBOC will maintain a moderately accommodative monetary policy to support stable growth and smooth market operations, he said.
ID : 8497363
Published : 2026-09-03 01:29
Last Modified : 2026-09-03 16:10:37
Source : China Central Television (CCTV),China Global Television Network (CGTN)
Restrictions : No access Chinese mainland
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