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China Calls for Fair, Reasonable Economic Order
Dai Xianglong, governor of the People's Bank of China, called Tuesday for a fair and reasonable world economic order in the process of economic globalization.
Addressing the International Monetary Fund (IMF) and the World Bank Annual Meetings, Dai said it is vital to establish a new and fair international financial and trading system which will benefit all countries, and a win-win globalization is essential for the stability and safety of the world.
He warned that financial globalization, while promoting the international capital flow as well as the efficiency of international financial markets, brought new financial risks as well.
China will actively participate in financial cooperation based on the currency swap arrangements recently introduced among ASEAN countries and China, Japan and South Korea, said Dai.
He added China will continue to adopt proactive fiscal policy and sound monetary policy, improve the budget management and reform the structure of fiscal expenditure.
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