IMF launches center in Shanghai to enhance ties with Asia-Pacific economies

The International Monetary Fund (IMF) on Monday officially launched the operations of its regional center in Shanghai.

As one of the regional centers set up by the IMF worldwide, the Shanghai Center is expected to enhance the IMF's engagement with the Asia-Pacific region, according to a statement from the international financial institution.

IMF Shanghai Center fully reflects the firm stances of China and the IMF in advocating win-win cooperation, said Pan Gongsheng, governor of the People's Bank of China (PBOC), at the launching ceremony.

"The commencement of operations of the IMF Shanghai Center holds great importance for deepening collaboration between the IMF and China, enhancing macroeconomic policy exchanges and coordination among Asia-Pacific countries, and safeguarding global and regional financial stability while improving global financial governance," Pan emphasized.

The center 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 to deepen dialogue and outreach with member countries, regional institutions, and other stakeholders in the region.

"It is a place where we would see global expertise and knowledge built in China and in the Asia to meet. So we can, through policy research, provide insights to policy makers for a harmonious and mutually beneficial advancements in economic development," Kristalina Georgieva, managing director of the IMF, said at the center's launching ceremony.

IMF launches center in Shanghai to enhance ties with Asia-Pacific economies

Russia said Monday that its armed forces had taken control over two more settlements in the Donetsk and Zaporizhzhia regions, while Ukraine, on the same day, reported strikes against multiple Russian military targets.

The Russian Ministry of Defense said in its latest report that the Russian forces had gained full control over the settlements of Chervonoye in the Donetsk region and Novodanilovka in the Zaporizhzhia region.

Over the past 24 hours, Russian forces struck 142 areas, targeting Ukrainian energy and transportation infrastructure, long-range drone launch sites, as well as temporary deployment points for Ukrainian armed forces and foreign mercenaries.

They also continued to attack encircled Ukrainian troops in Dimitrov (known as Myrnohrad in Ukraine), located near Krasnoarmeysk (known as Pokrovsk in Ukraine).

On the same day, the General Staff of the Armed Forces of Ukraine said that in the early hours of Monday, they carried out precise strikes on multiple Russian targets, including ammunition depots, warehouses for drones, fuel storage facilities, and the Pantsir-S1 air-defense systems.

It also reported that there were 87 clashes in frontline areas on Monday. In the Pokrovsk direction, Ukrainian troops repelled 22 Russian assaults.

Russia captures 2 more settlements, Ukraine attacks Russian military targets