China's central bank chief says trade tensions major risk to global economy

In a photo taken on Sept 24, 2019, Governor of People's Bank of China (PBOC) Yi Gang attends a news conference on China's economic development ahead of the 70th anniversary of its founding in Beijing.
In a photo taken on Sept 24, 2019, Governor of People's Bank of China (PBOC) Yi Gang attends a news conference on China's economic development ahead of the 70th anniversary of its founding in Beijing.PHOTO: REUTERS

WASHINGTON (REUTERS) - China's top central banker said on Saturday (Oct 19) that potential escalation of trade tensions and policy uncertainty were the major risk factors facing the world economy, and market forces were keeping China's yuan at an appropriate level.

Mr Yi Gang, the governor of the People's Bank of China, said in a statement to the International Monetary Fund's steering committee that Beijing was "deeply disappointed" in the IMF's failure to realign its shareholding structure to recognise the rising influence of China and other fast-growing economies.