Contents

Special Column on Renminbi Offshore Market

Offshore Dollar and Renminbi Markets Compared by Herbert Poenisch

China's Economy

China Celebrates Her 75th Anniversary - A Story of Peaceful Success by Peter Koenig

China - Positive Looking Forward - 2025 and Beyond by Peter Koenig

75 Years' Progress Vital for China and World by Dan Steinbock, Harvey Dzodin, Vasilis Trigkas, Hui Ming and Li Wanxin

China's New Opportunities for Foreign Capital by Su Qingy

Visa-free Policy Boosts Tourists' Footfalls by Mario Cavolo

Global Economy

As Inflation Recedes, Global Economy Needs Policy Triple Pivot by Pierre-Olivier Gourinchas

Difficult But Doabler by Kristalina Georgieva

IMF Policy

The International Monetary Fund, the World Bank Group, and the World Health Organization Step Up Cooperation on Pandemic Preparedness by IMF

The IMF Approves Policy Reforms and Funding Package to Support Low Income Countries in a Sustainable Manner by IMF

IMF Releases the 2024 Financial Access Survey Results by IMF

Macroeconomic

Centralized and Decentralized Finance: Substitutes or Complements? by Governor Christopher J. Waller

ECB Press Conference - Introductory Statemente by Christine Lagarde

Monetary Policy

Toughest Challenges for Monetary Policy are Probably Still to Come by Claudio Borio

Financial Technologies

Central Banks’ Role in Ring-fencing mBridge by Herbert Poenisch

Opportunities and Challenges for Financial Intermediation Functions Brought about by Technological Advancements by Kazuo Ueda

Verification of Payee: Enhancing Trust and Security across Borders by Cian OMurchu

Climate Policy and Green Finance

COP29 Ends with Ray of Hope by Putting Meat on the Bone of Global Climate Finance by China Daily editorial

Sovereign-owned Funds

What Happened in Muscat? The future of Sovereign-owned Funds by Udaibir Das

Sovereign Funds and the Hunt for Unicorns by Winston Ma

How to Finance the Adaptation Gap by Daniel Wilde

Working Paper

A Tale of Two Markets for the Redback by Jinyue Dong and Le Xia