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"Financial regulators' tolerance of higher NPL ratios for SME loans will also motivate commercial banks' lending," he added. "The challenge is how to precisely assess SMEs' financial risks and to prevent fraud based on limited information. Utilization of big data and advanced technology such as AI may be the key."

"For instance, many bike manufacturers now mainly produce bikes for bike-sharing platforms. Once platforms stop making new orders, manufacturers will be hit in the pocket."

"Finance Ministers and Central Bank Governors requested that the United States Secretary of the Treasury communicate their unanimous concern and disappointment," the group said in a summary statement written by Canada.

"Given the strategic importance of China to Standard Chartered, our eXellerator lab in Shanghai will play a crucial role in helping us proactively reinvent ourselves and the banking industry," he told China Daily in a recent interview.

"For instance, Mongolian Culture Days will be organized in Beijing and in Hohhot, the capital of North China's Inner Mongolia autonomous region. And Chinese Culture Days will be held in Mongolia next year."