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Home >> Business
UPDATED: 08:19, December 12, 2006
Chinese central bank gives priority to market-oriented reform
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Chinese central bank governor Zhou Xiaochuan said on Monday that market-oriented reform should be given priority when drawing up currency policies.

"Only by pushing forward the market-oriented reform can the central bank deal with a possible financial crisis," said Zhou, adding that the reform was the basis of a stable currency, low inflation and an efficient currency system.

The official said the goal of the central bank's currency policy was not simply to avoid inflation and realize a stable currency, but also to achieve economic growth, employment and balance international payments.

Market-oriented reform is directly related to stabilizing the value of the Renminbi and therefore the pushing forward of financial reform should be given priority, said Zhou.

Source: Xinhua

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