Source: CCTV.com

03-24-2009 13:59

The vice governor of China's central bank, Hu Xiaolian, has called for a new assessment system of the Financial Security Forum to fit the special conditions of emerging economies. She also says China will "actively consider" buying bonds issued by the International Monetary Fund.

Hu Xiaolian, Vice Governor of People's Bank of China

Hu Xiaolian says financial oversight system in developed countries was unsuitable for emerging economies.

She made the remark at a Monday news briefing about President Hu Jintao's attendance at the G20 Summit in London next week.

Hu Xiaolian said a reformed global oversight system should put all stakeholders in the financial market, especially those major players with systematic influence, under supervision.

She said China supports the IMF's innovative financing attempts, and that a more efficient and timely financing mode can effectively ease the IMF's cash shortage. China will "actively consider" buying bonds issued by the IMF.

The vice governor said China will continue investing in US government bonds while paying close attention to possible fluctuations in the value of those assets.