Financial reform to boost growth

Representatives of China's various financial sectors have held a joint press conference on banking system reform and economic development of the country.

Zhou Xiaochuan, the governor of the People's Bank of China and Shang Fulin, chairman of the China Securities Regulatory Commission, as well as heads of China’s big four state-owned banks, met with journalists for a question and answer session, as part of the on-going 18th CPC National Congress.

Central bank governor Zhou Xiaochuan says macro-economic management policies have been effective. Under the cloud of the international financial crisis, China’s economic growth has been stumbling and slowing down. He said the government has thoroughly studied the economic downturn and has taken the necessary measures to stabilize the economic situation. But he said that China still needs to be on guard against risks, while also encouraging diversity in the financial sector.

Recommended Features: A Decade of Fastest Development Eastern Boom Lightens Western Gloom A Journey to Cultural Renaissance Gold collection issued to mark 'Year of Snake' China: A Fast-growing Force in IPR 13th Int'l Automobile Industry Exhibition China Int'l Industry Fair opens in Shanghai Caofeidian coal wharf put into use Canton Fair wraps up on Sunday