PBOC Deputy Governor Lu Lei Attends G20 Finance Ministers and Central Bank Governors Meeting
The first G20 Finance Ministers and Central Bank Governors Meeting under the Brazilian Presidency was held in São Paulo on February 28th and 29th, 2024. The meeting focused on issues including global economy, addressing inequality, improving financial system, and dealing with global sovereign debt pressures. Deputy Governor Lu Lei attended the meeting.
The overall view of the meeting was that global economic recovery has proven more resilient than expected, but still faces multiple challenges. Therefore, enhanced international economic cooperation was required to promote growth together. The Ministers and Governors agreed to enhance the representation and voice of developing countries in global economic and financial institutions, advance the IMF quota reform, and address the debt vulnerabilities of low- and middle-income countries. Members committed to resist protectionism and encouraged concerted efforts to support an open and inclusive multilateral trading system. Members also agreed to maintain global financial stability together.
Deputy Governor Lu Lei introduced China's economic and financial developments and the monetary policy stance. He elaborated on China’s views on issues including developing financial inclusion, improving international financial architecture, and jointly maintaining financial stability.
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