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Home >> China
UPDATED: 18:22, September 17, 2006
China calls for stable international environment for energy security
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Governor of the People's Bank of China Zhou Xiaochuan Sunday called on all sides involved to strengthen negotiation to promote the resolution of international and regional disputes, and create a stable international environment to ensure energy security.

Speaking at the 14th meeting of International Monetary and Financial Committee of the Board of Governors of IMF held in Singapore Sunday, Zhou said that the global economy is expected to remain robust growth in 2007, but there are downside risks, including the high oil and raw material prices, high pressure of inflation.

Besides, he said that protectionism has emerged again in some areas and trade disputes have extended from commodity trade to the sector of service trade and investment.

Zhou called for all countries involved to take their responsibilities to facilitate an early resumption of the negotiations with stronger political will.

In his speech, he also urged developed countries to pace up their aid to low-income countries, and bring their official development aid to poor countries to 0.7 percent of their GNP, as set by the United Nations, as soon as possible.

He noted that China will continue to provide assistance to other low-income developing countries commensurate with its capacity in the framework of South-South cooperation.

Zhou also introduced China's economic situation in his speech, saying that China maintained a stable and rapid economic growth, while admitting some problems, such as unreasonable structure, and high environment and labor pressure.

To control the overheating of investment, Chinese government has adopted a series of measures on land use and credit control. The central bank has raised the benchmark interest rates and deposit reserve ratio twice on the run, said Zhou.

Source: Xinhua


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