2025 Lujiazui Forum "Plenary Session II: Enhancing the Coordination of Global Monetary Policies", Zhou Xiaochuan, Vice Chairman of the Twelfth National Committee of the Chinese People's Political Consultative Conference and former Governor of the People's Bank of China, stated that global monetary policies, including macroeconomic policies, were originally independent and did not require coordination, and could not be coordinated. However, since the beginning of this century, global economic cycles and macroeconomic conditions have converged, and the macroeconomic situation of major countries also has an impact on other countries. Major countries holding reserve currencies need to consider global impacts. Currently, there is no institution responsible for coordinating global macroeconomic policies, and it is in a "three noes" state, with no institution, no tools, and no consensus.