Regulatory ties critical to financial vigor

UK banking official lauds cooperation with China on range of rules for lenders

China should intensify collaborative efforts with other economies in the realm of financial regulation and policy coordination in a bid to better guard against financial risks, bolster resilience and heighten stability in the global financial system, an expert said.

Sam Woods, deputy governor for prudential regulation at the Bank of England－the central bank of the United Kingdom－said cooperation between regulators is key for ensuring financial stability.

During an event at Peking University's National School of Development on Monday, Woods shared key lessons learned from the 2008 financial crisis, highlighting the importance of "close and regular cooperation between regulators".