China firmly supports free trade, says PBoC chief
China firmly supports free trade, says PBoC chief
People's Bank of China governor Pan Gongsheng says unilateralism and protectionism 'offer no way out'. File photo: Courtesy of CCTV
China's central bank chief Pan Gongsheng said the country will firmly support free-trade rules and the multilateral trading system.
The remarks came as the People's Bank of China governor attended a meeting of G20 finance ministers and central bank governors in Washington on Wednesday local time, according to state broadcaster CCTV.
Speaking at the event, Pan said unilateralism and protectionism "offer no way out" and are not in the interests of anyone.
He also said China will adhere to its opening-up process and promote inclusive economic globalisation while maintaining global economic and financial stability.
He called on countries to strengthen cooperation to prevent the global economy from degenerating into a situation in which "high frictions and low trust" prevail as economic fragmentation intensified, disrupting the global industrial and supply chains, triggering financial market turmoil and weakening the momentum of global growth.
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