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13:35, 21-Apr-2018
China, US central bank chiefs exchange views on economy, monetary policies
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Chinese central bank governor Yi Gang on Friday met with US Federal Reserve Chairman Jerome Powell and discussed the two countries' monetary policies and economies, reported the People's Bank of China (PBOC).
The discussion took place at the annual spring meeting of the International Monetary Fund (IMF) and World Bank Group in Washington DC.
Meanwhile, the Group of 20 (G20) finance leaders also gathered in Washington for two days last week, touching on issues of global economy, the future of work and the Compact with Africa.
The group came to a consensus that the global economy is continuing to recover, but downturn risks remain. Protectionism and the faster-than-expected normalization of monetary policies in major economies are the main risks facing the global economy.
At the G20 meeting, Yi said China's economy continues to improve and the main economic indicators are better than expected, noting that China will push forward further opening-up to meet the future challenges.
With regard to cooperation with Africa, Yi encouraged the private sector to invest in African countries. The People's Bank of China established a two-billion-US dollar common growth fund for Africa in partnership with the African Development Bank in 2014.