The IMF Shanghai Center will play an important role in enhancing the Fund's engagement with the dynamic Asia and Pacific region. It will serve as a hub to promote research and knowledge sharing that can inform policies in areas of relevance for emerging market and middle-income countries. It also aims at deepening dialogue and outreach with member countries, regional institutions, and other stakeholders in the region, according to the release.

The launch was followed by an inaugural Shanghai Center research seminar on "Trending Issues in Macroeconomic Policy Research." The event brought together leading economic scholars from the region and IMF staff to exchange views on challenges and opportunities across emerging economies, such as structural transformation and growth, finance, and artificial intelligence and innovation, the release said.

Photo: courtesy of IMF

Johannes Wiegand serves as the first Director of the Shanghai Center. Wiegand is an IMF economist with extensive experience in global and regional economic policy issues. He brings deep institutional knowledge and is well placed to tap into a strong network of policymakers and academics across the world, according to the release.

Previously in June 2024, the IMF and the People's Bank of China (PBC) announced the opening of a new IMF regional center in Shanghai, according to IMF's website.

Global Times