On June 16, 2016, Professor Lawrence H. Summers, a famous US economist, was invited to give a lecture at the State Administration of Foreign Exchange (SAFE). The lecture was chaired by Pan Gongsheng, Deputy Governor of the People's Bank of China (PBC) and Administrator of the SAFE, and attended by relevant officials from the PBC and the SAFE. Professor Summers introduced the changes to the global and US economic and financial environments and the trends of the global and US economic and financial policies. Both sides exchanged ideas and had heated discussions on the trends of post-crisis financial regulatory adjustments in face of the low interest rates and the coordination of monetary policies and fiscal policies.