Key facts
- China's central bank governor, Pan Gongsheng, stated that China does not deliberately pursue a trade surplus.
- He emphasized expanding domestic demand and maintaining a high level of opening up to the world.
- G20 participants, excluding China, agreed to eliminate non-market policies that exacerbate imbalances.
- China reported a record trade surplus of nearly $1.2 trillion in 2025.
- Pan Gongsheng called for structural reforms to address global trade imbalances, suggesting specific actions for deficit and surplus countries.
China's central bank governor, Pan Gongsheng, asserted that the nation does not deliberately pursue a trade surplus, highlighting its commitment to expanding domestic demand and maintaining global openness. His remarks were made during a G20 Finance Ministers and Central Bank Governors meeting, which concluded on Tuesday.
A chair's statement from the G20 meeting indicated that participants, with the exception of China, agreed on the necessity of eliminating "non-market policies" that contribute to global economic imbalances. This comes as China reported a record trade surplus of nearly $1.2 trillion in 2025, a figure that has concerned trading partners and led to calls for stronger measures to protect domestic industries from increased Chinese imports.