Lan Fo'an Meets with European Commissioner for Economy and Productivity Dombrovskis, European Central Bank President Lagarde, and Eurogroup President Pierrakakis

On October 16, 2026, Minister of Finance Lan Fo'an, while attending the World Bank/International Monetary Fund Annual Meetings and the G20 Finance Ministers and Central Bank Governors Meeting in Bangkok, Thailand, held a meeting upon request with European Commissioner for Economy and Productivity Dombrovskis, European Central Bank President Lagarde, and Eurogroup President Pierrakakis, and exchanged views on topics including China-EU macroeconomic policy. Vice Minister of Finance Liao Min accompanied the meeting. Lan Fo'an stated that the current world economy faces multiple challenges, and China and Europe, as major economies, should urge all parties to practice true multilateralism, oppose all forms of unilateralism and protectionism, strengthen macroeconomic policy coordination, safeguard the stability of international industrial and supply chains, and inject momentum into global economic growth. Lan Fo'an emphasized that global imbalances are complex structural economic issues, whose causes stem from multiple factors such as the development of economic globalization and the international division of labor, the dominant position of major currencies, and the macroeconomic policy orientations of various countries. In recent years, they have also been increasingly affected by non-economic factors such as geopolitics and protectionism. All parties should view the imbalance issue in a comprehensive, objective, and balanced manner, and promote balanced and sustainable global economic growth through openness, cooperation, and macroeconomic policy coordination. China is accelerating the construction of a new development pattern with the domestic circulation as the mainstay and the domestic and international circulations reinforcing each other, with expanding domestic demand as an important strategic pillar. During the "15th Five-Year Plan" period, China will pay more attention to expanding domestic demand, investing in people, and openness and sharing, promote effective qualitative improvement and reasonable quantitative growth of the economy, and continue to provide opportunities and important support for world economic growth. China is willing to work with the European side to fully leverage mechanisms such as the China-EU Finance and Economic Dialogue to carry out communication on improving global economic governance and strengthening macroeconomic policy coordination. The European side stated that Europe and China are important economic partners, and the European side values deepening policy communication and coordination with China. Intensifying global imbalances pose risks to macroeconomic stability and require all parties to take joint action to accelerate the response. Major economies should all advance structural reforms and continuously optimize their economic structures. The European Union is deepening the construction of the single market, focusing on increasing investment, and enhancing competitiveness. The European side looks forward to strengthening macroeconomic policy dialogue with China in the financial and economic fields, engaging in in-depth exchanges on global economic rebalancing, fair competition, and other issues, and jointly safeguarding global economic and financial stability. This article is reprinted from the official website of the "Ministry of Finance." GMTEight Editor: Jiang Yuanhua.