China’s central bank head says country a haven for asset diversification in volatile world

Pan Gongsheng tells representatives from about 30 central banks around the world that opening-up measures are working

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People’s Bank of China governor Pan Gongsheng (right) greets Santiago Bausili, the president of the Central Bank of Argentina, at the PBOC-BIS Symposium in Shanghai on Wednesday. Photo: Handout

Published: 5:25pm, 11 Jun 2026

China’s central bank has described the country’s markets as a haven for diversified allocation amid geopolitical tension and market volatility, as the authorities proceed with an ambitious plan to increase foreign participation in domestic capital markets and promote the overseas use of the yuan.

“China’s financial market depth and breadth provide important opportunities for overseas institutions seeking diversified allocations in a period of heightened global financial volatility,” People’s Bank of China (PBOC) governor Pan Gongsheng said at a conference co-hosted with the Bank for International Settlements (BIS) in Shanghai.

He was addressing representatives from about 30 central banks around the world, including those from France, Germany, the United Kingdom, Switzerland, Brazil and Argentina.

Foreign central banks, largely viewed as long-term investors, have increased their holdings of Chinese treasury bonds in recent years in what has been viewed as a vote of confidence in China’s economy, and their reserve holdings of yuan assets have been rising according to data from the International Monetary Fund.

“China’s markets have continued to develop steadily, and opening-up measures have delivered tangible results,” Pan said in his speech on Wednesday.

His comments also fuelled market expectations ahead of the Lujiazui Forum, an influential annual finance industry gathering in Shanghai next week. At last year’s forum, Pan announced plans to establish an “international operations centre” for the digital yuan, aimed at enhancing the Chinese currency’s global influence.

China’s central bank head says country a haven for asset diversification in volatile world

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Pan Gongsheng tells representatives from about 30 central banks around the world that opening-up measures are working

Pan Gongsheng tells representatives from about 30 central banks around the world that opening-up measures are working