At the invitation of the People’s Bank of China (PBOC), Christine Lagarde, President of the European Central Bank, gave a lecture entitled “Sustaining global cooperation in a fragmenting world” at the PBOC on June 11, 2025. Governor Pan Gongsheng attended the event and delivered opening remarks. Deputy Governor Xuan Changneng moderated the lecture. Deputy Governor Zou Lan attended the lecture.
President Lagarde talked about historical examples of tensions in the international economic system and the lessons that can be learned. President Lagarde pointed out that one-sided adjustments to resolve global frictions have often fallen short, and protectionism could not resolve the root causes of trade imbalances. In a fragmenting world, regions need to pursue cooperative solutions - even in the face of differences, and work together to sustain global prosperity. President Lagarde also answered questions from staff members of the PBOC and the State Administration of Foreign Exchange.
Yi Gang, member of the 14th National Committee of the Chinese People’s Political Consultative Conference (CPPCC), Vice Chairman of the Economic Committee of the CPPCC, and Chairman of the Governing Council of China Society for Finance and Banking, attended the lecture.
