Tag: Pan Gongsheng

China is talking with Japan and South Korea about a trilateral currency swap, a person familiar with the matter said. The aim is to build a stronger regional financial backstop as U.S. tariff actions raise trade costs. According to ...

China announced several new initiatives aimed at increasing global trade in the yuan and to hedge against the dominance of the U.S. dollar. Pan Gongsheng, the governor of the People’s Bank of China, proposed a future where the global financial system would rely on several currencies.