July 21 to 25, 2025

From July 21-25, 2025, 38 Chinese participants from People’s Bank of China (PBC) and National Financial Regulation Administration (NFRA) convened in Shenzhen for the course on Macro-Stress Testing (MST).

This course was delivered by Mr. Dimitrios Laliotis (Mission Chief), Mr. Apostolos Panagiotopoulos and Ms. Wei Sun from the IMF Monetary and Capital Markets Department (MCM). The course reviewed stress testing objectives, methodologies, techniques, and good practices. Much of the course consisted of hands-on modules that expose participants to the entire stress testing cycle: from entering data and estimating macro-financial models to designing scenarios, selecting assumptions, running tests, communicating the results, and incorporating them in policy decision making. The course also familiarized participants with the advanced macro-stress testing concepts and helped them gain practical understanding of how the models and the MCM framework are deployed in practice.