PBOC: Maintain financial stability

Problems and uncertainties are constantly emerging in the financial sector in the wake of the global credit crunch. China's central bank says it will carry on efforts to preserve financial stability.

The People's Bank of China says it will strive for a prudent regulatory  framework.

A statement posted by the People's Bank of China says it will strive for a prudent regulatory framework. It calls for deepening reforms at financial institutions. And it stresses the importance to keep a close eye on global financial and economic changes. The central bank says it will strengthen supervision on risk management at banking, securities, insurance and financial holdings companies. It also plans greater participation in international cooperation.