Zhou Xiaochuan: There is no consensus on global macro policy coordination.

Mars financial news, at the 2025 Lujiazui Forum "Plenary Session II: Enhancing the Coordination of Global Monetary Policy", Zhou Xiaochuan, vice chairman of the 12th National Committee of the Chinese People's Political Consultative Conference and former governor of the People's Bank of China, said that global monetary policy, including macroeconomic policy, was originally independent, and did not need to be coordinated, nor could it be coordinated. However, since the beginning of this century, the global economic cycle and macroeconomic conditions have converged, and the macroeconomic state of large countries also has an impact on other countries, and large countries with reserve currencies need to consider the global implications. At present, no institution is responsible for global macro policy coordination, and it is in a state of "three nos", with no institutions, no tools, and no consensus.