Contents

Special Column on Coronavirus Crisis

-Economic Impact of the Novel Coronavirus Outbreak on China Will Be Temporary by Chen Yulu

-Upward Trajectory Will Continue by Liu Yuanchun

-6% Should Still Be Country’s GDP Growth Target by Liu Jun

-No Reason for Undue Pessimism by Zhang Ming

-Waging War on COVID-19 by Andrew Sheng and Xiao Geng

-Crisis Management: Health Crisis and Financial Crisis Compared by Herbert Poenisch

-Corona is More Than a Health Disaster – It’s a Human Calamity by Peter Koenig

-Banking in a World of Uncertainty by Yaseen Anwar

-Time to Pull the G20 Fire Bell by Matthew Goodman and Mark Sobel

-Beyond Swap Lines by Danae Kyriakopoulou

Monetary Policy

-Central Banks Can’t Bury Risk with More Money by Jacques de Larosiere

-Research, Policy, and the Zero Lower Bound by John C. Williams

-Change and Continuity by Jens Weidmann

-Monetary Policy Strategies and Tools When Inflation and Interest Rates Are Low by Lael Brainard

-The Monetary Policy Toolbox: Evidence from the Euro Area by Philip R. Lane

Digital Economy

-What Libra Means for Money Creation by John Nugée

-The Future of Payments: Central Banks’ Digital Currency Journey by Wolfram Seidemann

-Direction of Supervision: Impact of Payment System Innovation on Community Banks by Michelle W. Bowman

-Ben Shenglin on China’s Financial Technology Strategy by Willem Middelkoop

Financial Regulation

-Spontaneity and Order: Transparency, Accountability, and Fairness in Bank Supervision by Randal K. Quarles

Green Finance

-Scaling Up Sustainable Finance in Asia by Aziz Durrani

Working Paper

-Systemic Financial Risk and Macroeconomic Activity in China by He Qing, Liu Junyi, Gan Jingyun and Qian Zongxin

-Return and Volatility Transmission between China’s and International Crude Oil Futures Markets: A First Look by Yang Jian and Zhou Yinggang