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China’s financial sector well-equipped to weather COVID-19-plagued global financial storm: senior official

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Lu Lei speaks at the 2020 Tsinghua PBCSF Global Finance Forum on Saturday. Photo: Courtesy of Tsinghua PBCSFChina grasped upon a pivotal window of opportunity in 2019 for its financial sector to be market-oriented, law-based, and globalized, well-equipping its markets to weather a coronavirus-induced global financial tsunami in 2020, Lu Lei, deputy head of China’s foreign exchange regulator, said on Saturday.”We had faced external shocks arising from China-US trade frictions in 2018 while the fallout of the pandemic has triggered a global financial storm and risks of economic depression,” Lu s…

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