IMF and the People’s Bank of China Establish a New Center for Modernizing Economic Policies and Institutions

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MIL OSI Global Economy

Source: International Monetary Fund

Headline: IMF and the People’s Bank of China Establish a New Center for Modernizing Economic Policies and Institutions

May 14, 2017

IMF welcomes China’s commitment to strengthening its collaboration with the Fund on capacity development

Through hands-on training courses and workshops that will address topical macroeconomic issues, the CICDC will support government officials from China and other countries – including from countries associated with “Belt and Road” Initiative – in effective institution-building and policymaking.

The CICDC will be anchored in Beijing.

The IMF welcomes China’s commitment to strengthening its collaboration with
the Fund on capacity development. Zhou Xiaochuan, Governor of the People’s
Bank of China (PBC) and Christine Lagarde, Managing Director of the
International Monetary Fund (IMF), today signed a Memorandum of
Understanding to establish a new China-IMF Capacity Development Center
(CICDC). They underlined the mutual benefits that arise from the
establishment of the CICDC and cooperation between China and the IMF,
including on capacity development.

Through hands-on training courses and workshops that will address topical
macroeconomic issues, the CICDC will support government officials from
China and other countries–including from countries associated with the
“Belt and Road” Initiative–in effective institution-building and
policymaking. The CICDC will be anchored in Beijing and support training
activities both inside and outside of China.

Zhou Xiaochuan, Governor of the PBC said:”The PBC has long valued our
cooperation with the IMF in capacity development. We believe that
establishing a new capacity development center in China is not only in the
interests of China and the IMF, but also serve the interests of countries
along the “Belt and Road” Initiative.”

IMF Managing Director Christine Lagarde made the following statement at the
signing ceremony: “I very much welcome the initiative of the People’s Bank
of China to establish a new center for capacity development and strengthen
cooperation with the IMF. Our joint work in this area will focus on
building effective policies and institutions as well as strengthening
related human capacities. We are very pleased to be a partner in this
important initiative.”

Background Information:

The IMF’s

capacity development

efforts are part of its core mandate and help governments modernize
their economic policies and institutions. A global network of

regional capacity development centers

anchor IMF support for economic institution building and are
complemented by

global thematic funds

for capacity development. They are financed jointly by the IMF,
external development partners, and member countries.

Follow IMF Capacity Development on social media and visit us online:

Facebook:

IMFCapacityDevelopment

Twitter: @IMFCapDev

IMF Communications Department
MEDIA RELATIONS
PRESS OFFICER: Lucie Mboto Fouda
Phone: +1 202 623-7100Email: MEDIA@IMF.org

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