Increase Money Supply, Ward Off Financial Risk
This is the financial policy that has been set and a demand of the Ministry of Finance for doing a good job of finance by the turn of the present century in China.
As is known to the world outside, Renminbi has always remained as a most stable currency being used by China during the last 20 years of reform and opening. To develop the Chinese economy in the last 20 years titanic efforts have been made by the country for a stable financial market to be developed. Though last year Chinese banks had interest cuts for three times and irrespective of serious financial crisis that had erupted in the Southeastern Asian countries Renminbi has still kept its good stability in guaranteeing a sustainable growth of the Chinese economy. Under these circumstances, there has been brought about a tripartite situation of fine operation by banking, securities market and insurance and of greater advances to be made by the Chinese economy with greater money supply and all financial risks to be avoided.
Economicnews 1999-01-13 Page2
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