People’s Bank of China Vice Governor Lu Lei outlines ‘strong currency’ criteria and says the renminbi already meets them

At the opening of the 2025 China Finance Society Academic Annual Meeting and China Financial Forum Annual Meeting in Beijing, People’s Bank of China Vice Governor Lu Lei described what constitutes a “strong currency” and argued that the renminbi already exhibits these attributes and has scope to further strengthen its advantageous position. China Finance Society chairman Yi Gang also delivered a keynote on building a modern financial system with Chinese characteristics, with a focus on inclusive finance and green finance. Lu framed a strong currency around value stability, recognition by global financial market consensus, and readiness for a more intelligent and digital era, and encouraged participants to use the China Finance Society platform to develop influential work on global financial governance reform, drivers of economic development potential and the impacts of artificial intelligence. Yi said inclusive finance should remain people-centred while adhering to commercial sustainability, and that green finance should reduce the negative externalities of carbon emissions and narrow the green premium by mobilising social capital through market-based approaches to support an economy-wide green and low-carbon transition.