Contents

Special Column on China's NPC and CPPCC Sessions

Reform, Opening-up and People-centered Development will Continue to Drive Progress by China Daily Editorial

China Has Just Raised Its Debt Ceiling by Herbert Poenisch

Proactive Fiscal Policy Projects Confidence by Li Yang

China's Economy

The Strategic Contest in China–U.S. Macroeconomic Policy by Xiao Geng

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

Open China Continues to Drive Global Growth by Maya Majueran

Economic Globalization

To Answer Three Key Questions about Economic Globalization by Huan Yuping

Internationalization of Capital Market Gathers Pace with Plan by Zhang Zhouxiang

Reinvigorating Global Growth through Productivity Reforms by Nigel Clarke

IMF Managing Director Kristalina Georgieva’s Statement at the Conclusion of the First Meeting of the G20 Finance Ministers and Central Bank Governors by Kristalina Georgieva

Regional

The Economic Outlook and Monetary Policy in the Euro Area by Luis De Guindos

Asia’s Next Growth Frontier by Kristalina Georgieva

Cooperation

The Future of Cooperation by Fajar Hirawan

Sino-EU Economic Relations of Mutual Benefit by Zhang Zhouxiang

China-Latin America Trade Booms with Greater Prospects by Cui Fan

Crypto Assets

Trump Kicks Crypto Policy into Gear and Hammers Nail in US CBDC Coffin by Lewis Mclellan

Tariffs Trigger for Sharp Decline in Crypto Assets by China Daily Editorial

Artificial Intelligence and Technologies

How Artificial Intelligence Will Affect Asia’s Economies by Tristan Hennig, Shujaat Khan

New AI Models Risk Economic Amnesia by Udaibir Das

Digital Wallet Dominance: A Competition Issue or An Innovation Deficit? by Lewis Mclellan

Opening Remarks - 4th Workshop on Data Science in Central Banking by Alberto Naudon

Climate Policy and Green Finance

Climate Initiatives Need A Heavy Push to Start by Emma Mcgarthy

Financial Institutions Brought into Play in Carbon Market by China Daily Editorial

Climate Change and Supervision - Prioritise Action, Foster Collaboration by Sabine Mauderer

Working Paper

Bail-ins and Market Discipline: Evidence from China by Shanshan Li, Di Gong and Liping Lu