With China's impending entry into the World Trade Organization (WTO), China's financial industry will face new challenges brought by financial globalization.
The emphasis of China's financial reform will be laid on deepening reforms of the four commercial banks exclusively invested by the state, Dai Xianglong, governor of the People's Bank of China, said Sunday.
Chinese Vice-Premier Wen Jiabao said Sunday morning that economic globalization has been an objective trend and China will face the challenges with courage and grasp opportunities brought about by the trend.
China will continue to carry out a proactive fiscal policy, and will not shift its fiscal emphasis from stimulating domestic demand to restructuring supply and demand until its economic base is strong enough.
The 2001 annual meeting of China Development Forum opened here Sunday morning. Chinese Vice-Premier Wen Jiabao attended the opening ceremony and delivered a speech.
