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Real-time News
On May 25, 2026, Pan Gongsheng, Governor of the Peoples Bank of China (PBOC), met with Jean-Pierre de Gallo, Governor of the Bank of France. The two exchanged views on the global and Chinese economic situation, Sino-French and Sino-European economic and financial cooperation, and global economic and financial governance. Pan Gongsheng stated that in recent years, under the strategic guidance of the heads of state of China and France, Sino-French relations and cooperation have made positive progress. Currently, the global economy faces multiple challenges, including geopolitical conflicts. China and France, and China and Europe, should strengthen strategic communication, jointly uphold multilateralism, and work together to build a more fair, just, inclusive, and resilient global financial governance system. China is firmly committed to opening up its financial sector and welcomes financial institutions from all countries, including France, to deepen their presence in the Chinese market. The PBOC is willing to continue deepening exchanges and cooperation with the Bank of France to elevate Sino-French and Sino-European financial cooperation to new heights. De Gallo stated that deepening Sino-French and Sino-European cooperation is of great significance in the current complex and volatile international situation. The Bank of France attaches great importance to its cooperative relationship with the PBOC and is willing to further strengthen communication and coordination to jointly promote the improvement of global economic and financial governance. Following the meeting, De Gallo delivered an academic lecture at the Peoples Bank of China and exchanged views with staff. Xuan Changneng, Vice Governor of the Peoples Bank of China, attended the meeting and chaired the lecture. Yi Gang, President of the China Finance Society, also attended the lecture.According to TASS, the Russian Foreign Ministry has called on foreign citizens to leave Kyiv.The SC crude oil futures contract narrowed its intraday decline to 2.00%, currently trading at 609.20 yuan per barrel.The Bank of Israel lowered its benchmark interest rate from 4.00% to 3.75%.On May 25, it was reported that Indias Statistics Department has proposed adjustments to its monthly industrial output calculation method, including expanding industry coverage and adopting a chain-linked framework; this move is intended to align with the release of a new series of industrial output data scheduled for next week. A technical advisory group within the department has recommended extensive reforms to the Industrial Production Index (IIP), including separately tracking renewable energy generation and incorporating utilities such as gas supply, water supply, wastewater treatment, and waste management.
