China’s financial superpower ambitions get legal backing at ‘two sessions’

The National People’s Congress Standing Committee approved two new laws at its annual session, aiming to solidify China's ambitions for financial dominance. The legislation will encompass a range of areas including the yuan's global status, green finance, and anti-corruption measures. Analyst Fu Weigang believes these laws will create a comprehensive framework for all aspects of finance in China, potentially impacting reform efforts, real economy development, inclusive finance, and more.