Pan Gongsheng: There are no winners in a trade war or tariff war. China will continue to adhere to its policy of opening up to the outside world.

Pan Gongsheng, Governor of the People's Bank of China, attended the G20 Central Bank Governors Meeting in Washington, D.C. on the 23rd, and said that the current global economy is full of uncertainties. Economic fragmentation and trade tensions are intensifying, disrupting global industrial and supply chains, causing financial market turbulence, weakening global economic growth momentum. All parties should strengthen cooperation and efforts to avoid the global economy sliding into a "high-friction, low-trust" track. Trade wars and tariff wars have no winners, unilateralism and protectionism lead to no way out, and are against the interests of any party. China will adhere to opening up, firmly support free trade rules and the multilateral trading system, promote inclusive economic globalization, and maintain global economic and financial stability. This article is reprinted from "Finance Association", GMTEight Editor: Liu Jiayin.