FX.co ★ PBoC Chief Reaffirms Supportive Policy, Warns of Trade Tensions

China's economy has experienced a robust start this year and is on a path of continued recovery, with financial markets showing stability, according to Pan Gongsheng, Governor of the People's Bank of China (PBoC). Speaking at the G20 Finance Ministers and Central Bank Governors Meeting in Washington, Pan emphasized that the PBoC intends to maintain an "appropriately loose" monetary policy to spur high-quality development. He cautioned against the harmful effects of economic fragmentation and trade tensions, which are disrupting global industrial and supply chains while undermining global growth. "Trade wars and tariff wars yield no winners," Pan asserted, calling on major economies to proactively enhance international cooperation to safeguard global economic and financial stability.