The International Monetary Fund (IMF) on Monday officially launched the operations of its regional center in Shanghai, headed by Johannes Wiegand, an IMF economist, as the director.

As one of the regional centers set up by the IMF worldwide, the IMF Shanghai Center is expected to enhance the IMF's engagement with the Asia-Pacific region, according to a statement from the IMF.

The center will serve as a hub to promote research and knowledge sharing that can inform policies in areas of relevance for emerging market and middle-income countries, said the statement.

It also aims at deepening dialogue and outreach with member countries, regional institutions, and other stakeholders in the region, according to the statement.