40 Quotes by Zhou Xiaochuan

What the premier said means that China would continue to increase the flexibility of the RMB exchange rate in a gradual manner.

The reforms of the exchange rate regime made in July meet the needs of China's economic and social development and play a significant role in maintaining macroeconomic and financial market stability.

but the important thing is that it has started to float and over time market forces will play a more and more important role.

Chinese companies are now looking more and more at global competition.

China's major trading partners are the United States, the euro land, Japan, Korea, etc., and naturally, U.S. dollar, euro, Japanese yen and Korean won become major currencies of the basket.

China has undertaken several reforms related to the safety net, healthcare reform, pension reform, education reform in the hope to reduce precautionary savings.

Fund surveillance should comply with the objective of promoting exchange and financial stability and respect the autonomy as to exchange-rate systems that is granted to all members.

Global trade, settlements and reserve assets are heavily reliant on a single currency. The fund should give priority to establishing a surveillance and check-balance mechanism of the major reserve currency countries.

I think it's very clear that China is introducing a new exchange rate mechanism. It is not a one-time adjustment.