China and the International Monetary System: A Discussion with Zhongxia Jin, IMF Executive Director for China

On Thursday, Nov. 12, the Global Development Policy Center hosted a live webinar discussion with Dr. Zhongxia Jin, the Executive Director for the People’s Republic of China at the International Monetary Fund (IMF).

Dr. Jin joined the International Monetary Fund in February 2015. Prior to that, he held various positions in Beijing, including as Director-General of the Research Institute, Deputy Director-General of the Monetary Policy Department and Deputy Director-General of the International Department. His experience covers G20 matters, IMF affairs, regional monetary cooperation, and domestic open market operation.

He opened the event by providing an overview of the history and role of the IMF in the international monetary system, noting China’s involvement as a founding member of the Fund in 1945 (with formal representation as the People’s Republic of China since 1980). Dr. Jin further discussed the history and increasing role of China in the international monetary system, highlighting the role of the IMF and China in responding to the global financial crisis of 2008-2009. Dr. Jin commented that, “The close cooperation between the IMF and its members, including China, has helped build a stronger international monetary system going forward.” More recently, Dr. Jin also commented that China “has stepped up support for the IMF and its members since the start of the COVID-19 pandemic.” 

On the current crisis in multilateralism, Dr. Jin stated, “multilateralism can be effective and instrumental in strengthening rules-based cooperation,” but that “the IMF needs to strive to be more inclusive.”

During the Q&A session, Dr. Jin expressed support for issuing a new allocation of Special Drawing Rights and the incorporation of gender into the IMF’s international and multilateral surveillance efforts.

Dr. Jin holds a PhD in International Finance from the University of Hawaii; an MA in Macroeconomic Management and BA in International Economics from Peking University.

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