Zhou Changneng, Deputy Governor of the People's Bank of China: China will adhere to demand-led growth, build a strong domestic market, and unleash the potential of service consumption

Xuan Changneng, Deputy Governor of the People's Bank of China, attended the G20 Finance and Central Bank Deputies Meeting. Xuan Changneng pointed out that China firmly supports multilateralism and is willing to work with all parties to better leverage the G20 financial channels, strengthen macro policy coordination, and promote global economic growth. Tariffs cannot effectively resolve global imbalances, and deficit countries should accelerate domestic policy adjustments to achieve global rebalancing. China supports improving the business environment through regulatory modernization, but this should not undermine important financial regulatory standards such as Basel III. China is actively implementing the G20 Cross-Border Payment Roadmap, promoting the interconnection of fast payment systems based on compliance with international anti-money laundering standards, improving cross-border payment efficiency, and reducing transaction costs. China is willing to share successful experiences in promoting national financial education and conducting anti-fraud campaigns with all parties