Core Viewpoint - The meeting of ASEAN+3 finance ministers and central bank governors highlighted the need for enhanced regional financial cooperation and the introduction of rapid financing tools using freely usable currencies like the Renminbi, marking a significant step towards diversifying the international monetary system [1][2]. Group 1 - The People's Bank of China Governor Pan Gongsheng emphasized the rising economic and financial risks in the ASEAN+3 region due to unilateralism and global economic uncertainties [2]. - A consensus was reached to explore and improve the capital contribution scheme of the Chiang Mai Initiative based on the International Monetary Fund (IMF) model, laying a solid foundation for the mechanism's effectiveness [2]. - The introduction of rapid financing tools funded by freely usable currencies is seen as a breakthrough, expanding the resources available under the Chiang Mai Initiative and reflecting regional characteristics [2]. Group 2 - The meeting also included discussions among China, Japan, and South Korea regarding economic conditions and regional financial cooperation, with calls for unity in response to U.S. tariff impacts [2]. - Pan Gongsheng shared insights on China's macroeconomic policies during bilateral talks with finance ministers and central bank governors from Japan, South Korea, and Malaysia [2].

Core Viewpoint - The meeting highlighted the importance of enhancing the Chiang Mai Initiative Multilateralization (CMIM) mechanism and strengthening the regional financial safety net in response to rising economic and financial risks in the 10+3 region due to unilateralism and global economic uncertainties [2]. Group 1 - The meeting, attended by the Governor of the People's Bank of China, Pan Gongsheng, focused on the impact of U.S. tariff policies on the global and regional macroeconomic landscape [1]. - A consensus was reached to introduce a rapid financing tool funded by freely usable currencies like the Renminbi, which expands the resources available under the CMIM and signifies progress towards a diversified international monetary system [2]. - The meeting also discussed the exploration and improvement of the CMIM capital contribution scheme based on the International Monetary Fund (IMF) model, laying a solid foundation for the mechanism's effectiveness and regional stability [2]. Group 2 - Pan Gongsheng emphasized the need for regional countries to unite in response to U.S. tariff impacts and shared China's macroeconomic policies during bilateral discussions with finance ministers and central bank governors from Japan, South Korea, and Malaysia [2]. - Following the meeting, a joint press conference was held by China and Malaysia, who are the joint chairs of the 10+3 for 2025, to present the cooperation outcomes achieved during the discussions [2].

Core Viewpoint - The meeting highlighted the importance of enhancing the Chiang Mai Initiative Multilateralization (CMIM) mechanism and strengthening the regional financial safety net in response to rising economic and financial risks in the 10+3 region due to unilateralism and global economic uncertainties [2]. Group 1 - The meeting, attended by the Governor of the People's Bank of China, Pan Gongsheng, focused on the impact of U.S. tariff policies on the global and regional macroeconomic landscape [1]. - A consensus was reached to establish a rapid financing tool funded by freely usable currencies like the Renminbi under the CMIM framework, marking a significant step towards the diversification of the international monetary system [2]. - The meeting also discussed the exploration and improvement of the CMIM capital contribution scheme based on the International Monetary Fund (IMF) model, laying a solid foundation for the mechanism's effectiveness and regional stability [2]. Group 2 - Pan Gongsheng emphasized the need for regional countries to unite in response to the impacts of U.S. tariffs and shared China's macroeconomic policies during bilateral discussions with finance ministers and central bank governors from Japan, South Korea, and Malaysia [2]. - Following the meeting, a joint press conference was held by China and Malaysia, who are the co-chairs of the 10+3 for 2025, to present the cooperation outcomes achieved during the discussions [2].