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"Expected regulatory standards will include a capital adequacy ratio and liquidity ratio, aimed at curbing excessive borrowing and high capital leverage of the groups," said Lian. "Indicators to show insider trading and connected transactions should also be written into the rules."

"Failure to take quick actions to suppress the virus could result in more severe economic outcomes as well as the unnecessary loss of life," said the Fed official.

"Ever since I was a kid, my family's wooden boat had to be repaired every couple of years, so I learned quite a few things about the job," Wang said.

"Digital currency has the ability to track money electronically as it changes hands, and it would be useful in anti-money laundering and fighting other illegal activities in the financial services industry," he said, adding China is one of the leading markets when it comes to implementing advanced technologies in the financial services sector.

"Every party involved with the community shares both opportunities and risks, and any unilateral action should take the other parties into consideration because everyone's interests are intertwined."