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Lardy said that China is not facing a banking crisis, and that China still sees a high ratio of funding from deposit. Moreover, he said that most of the debt is renminbi debt, thus its reliance on wholesale financing is little.
"To brave through the rough waters of world economy and start a new journey for future growth, it's good to know that we are in the same boat," he said.
They should also make the most of the 45th anniversary of normalization of Sino-Japanese ties in 2017, and the 40th anniversary of the signing of the Treaty of Peace and Friendship between China and Japan the year after, to push forward Sino-Japanese ties, he said.
On July 23-24, G20 finance ministers and central bank governors met in Chengdu, in southwest China's Sichuan Province, and issued a statement on the global economic situation, saying they would use "all policy tools" at their disposal to boost confidence in the global economy and promote growth.
The weak world economy and problematic global governance system are thirsty for China's wisdom and ideas to solve the conundrum. It is fitting that the G20 summit has come to Hangzhou, China.
来源：资阳报