This readout via the People’s Bank of China:
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China’s Xuan Changneng, Deputy Governor of the PBoC, attended the ASEAN+3 Finance and Central Bank Deputies Meeting in Kuala Lumpur.
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He chaired discussions as China’s co-chair of the 10+3 Finance and Financial Cooperation Mechanism.
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Key topics included:
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Impact of US tariffs on global and regional macroeconomics.
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Strengthening the Chiang Mai Initiative Multilateralization (CMIM).
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Enhancing the role of the 10+3 Macroeconomic Research Office (AMRO).
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Deepening regional policy coordination and improving the regional financial safety net.
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The meeting adopted legal arrangements for RMB investment under the CMIM.
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China, Japan, and South Korea also held a separate trilateral meeting to discuss economic and financial cooperation.
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Xuan reaffirmed China’s commitment to a moderately loose monetary policy to support market stability and economic recovery.
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He held bilateral talks with senior officials from South Korea and Singapore to discuss global uncertainty and its national impacts.
Bolding above is mine.
This article was written by Eamonn Sheridan at www.forexlive.com.
